Explanipedia

Firms and inequality Open

Jan De Loecker, Tim Obermeier, John Van Reenen · 2024

We review the existing literature on falling business dynamism and present a new analysis using comprehensive UK firm-level panel data. Since the mid-1990s, there has been a large increase in UK firm-level inequality (especially in the upp…

Two Wrongs Can Sometimes Make a Right: The Environmental Benefits of Market Power in Oil Open

John Asker, Allan Collard‐Wexler, Charlotte De Canniere, Jan De Loecker, Christopher R. Knittel · 2024

Are Managers Paid for Market Power? Open

Renjie Bao, Jan De Loecker, Jan Eeckhout · 2022

Comment on (Un)pleasant ... by Bond et al (2020) Open

Jan De Loecker · 2021

Quantifying Market Power and Business Dynamism in the Macroeconomy Open

Jan De Loecker, Jan Eeckhout, Simon Mongey · 2021

We propose a general equilibrium economy with oligopolistic output markets in which two channels can cause a change in market power: (i) technology, via changes to productivity shocks and the cost of entry, (ii) market structure, via chang…

Quantifying Market Power and Business Dynamism in the Macroeconomy Open

Jan De Loecker, Jan Eeckhout, Simon Mongey · 2021

We propose a general equilibrium model with oligopolistic output markets where two channels can cause a change in market power: (i) technology, via changes to productivity shocks and the cost of entry, (ii) market structure, via changes to…

Quantifying Market Power and Business Dynamism Open

Jan De Loecker, Jan Eeckhout, Simon Mongey · 2021

Quantifying Market Power and Business Dynamism in the Macroeconomy Open

Jan De Loecker, Jan Eeckhout, Simon Mongey · 2021

An Industrial Organization Perspective on Productivity Open

Jan De Loecker, Chad Syverson · 2021

An Industrial Organization Perspective on Productivity Open

Jan De Loecker, Chad Syverson · 2021

The Rise of Market Power and the Macroeconomic Implications* Open

Jan De Loecker, Jan Eeckhout, Gabriel Unger · 2020

We document the evolution of market power based on firm-level data for the U.S. economy since 1955. We measure both markups and profitability. In 1980, aggregate markups start to rise from 21% above marginal cost to 61% now. The increase i…

RMP_DLEU.zip Open

Jan De Loecker, Jan Eeckhout, Gabriel Unger · 2020

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readme_RMP_DLEU.rtf Open

Jan De Loecker, Jan Eeckhout, Gabriel Unger · 2020

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Replication Data for: 'The Rise of Market Power and the Macroeconomic Implications' Open

Jan De Loecker, Jan Eeckhout, Gabriel Unger · 2019

The programs replicate tables and figures from "The Rise of Market Power and the Macroeconomic Implications", by De Loecker, Eeckhout, and Unger. Please see the Readme file for additional details.

(Mis)Allocation, Market Power, and Global Oil Extraction Open

John Asker, Allan Collard‐Wexler, Jan De Loecker · 2019

We propose an approach to measuring the misallocation of production in a market that compares actual industry cost curves to undistorted (counterfactual ) supply curves. As compared to traditional, TFPR-based, misallocation measures, this …

Replication data for: (Mis)Allocation, Market Power, and Global Oil Extraction Open

John Asker, Allan Collard‐Wexler, Jan De Loecker · 2019

We propose an approach to measuring the misallocation of production in a market that compares actual industry cost curves to undistorted (counterfactual) supply curves. As compared to traditional, TFPR-based, misallocation measures, this a…

Markup and price dynamics: linking micro to macro. National Bank of Belgium, Working Paper No. 357 Open

Jan De Loecker, Catherine Fuss, Johannes Van Biesebroeck · 2018

We analyze the aggregate markup of a small-open economy, Belgium, using a ﬁrm-level dataset that includes all non-ﬁnancial, private ﬁrms. The dataset covers the period 1980-2016 and merges the annual ﬁrm accounts over three periods when ﬁr…

Markup and price dynamics: Linking micro to macro Open

Jan De Loecker, Catherine Fuss, Johannes Van Biesebroeck · 2018

We analyze the aggregate markup of a small-open economy, Belgium, using a firm-level dataset that includes all non-financial, private firms. The dataset covers the period 1980-2016 and merges the annual firm accounts over three periods whe…

Global Market Power Open

Jan De Loecker, Jan Eeckhout · 2018

To date, little is known about the evolution of market power for the economies around the world.We extract data from the financial statements of over 70,000 firms in 134 countries, and we analyze and document the evolution of markups over …

Masthead Open

Harald Uhlig, Jan De Loecker, Frederico Finan, Raymond Fisman, David Green , et al. · 2018

Masthead Open

Harald Uhlig, Jan De Loecker, Frederico Finan, Raymond Fisman, David Green , et al. · 2018

Masthead Open

Harald Uhlig, Jan De Loecker, Frederico Finan, Raymond Fisman, David Green , et al. · 2017

Market Power, Production (Mis)Allocation and OPEC Open

John Asker, Allan Collard‐Wexler, Jan De Loecker · 2017

This paper estimates the extent to which market power is a source of production misallocation.Productive inefficiency occurs through more production being allocated to higher-cost units of production, and less production to lower-cost prod…

The Rise of Market Power and the Macroeconomic Implications Open

Jan De Loecker, Jan Eeckhout · 2017

We document the evolution of markups based on firm-level data for the US economy since 1950. Initially, markups are stable, even slightly decreasing. In 1980, average markups start to rise from 18% above marginal cost to 67% now. There is …

The Rise of Market Power and the Macroeconomic Implications Open

Jan De Loecker, Jan Eeckhout · 2017

We document the evolution of markups based on firm-level data for the US economy since 1950.Initially, markups are stable, even slightly decreasing.In 1980, average markups start to rise from 18% above marginal cost to 67% now.There is no …

Masthead Open

Harald Uhlig, Michael Greenstone, James J. Heckman, Alı Hortaçsu, Erik Hurst , et al. · 2017

Market Power, Production (Mis)Allocation, and OPEC Open

John Asker, Allan Collard‐Wexler, Jan De Loecker · 2017

Estimating Market Power: Evidence from the US Brewing Industry Open

Jan De Loecker, Paul T. Scott · 2017

Estimating market power Evidence from the US Brewing Industry Open

Jan De Loecker, Paul T. Scott · 2016

While inferring markups from demand data is common practice, estimation relies on difficult-to-test assumptions, including a specific model of how firms compete. Alternatively, markups can be inferred from production data, again relying on…

Production Function Estimation and Capital Measurement Error Open

Allan Collard‐Wexler, Jan De Loecker · 2016

We look into the impact of measurement error in capital on the estimation of production functions.We introduce an identification scheme and an estimation procedure that jointly deals with measurement error in capital and the standard simul…

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