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Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen market concentration. Whether and how policymakers should address this issue is hotly debated. This note provides new evidence on the policy relevance of rising market power and highlights possible implications for the design of competition policy frameworks and macroeconomic policies.
Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcie
A situation in economics that is little short of scandalous is the almost total neglect by mainstream economics of the importance of power in economic affairs.
With the rise of digital platforms and the natural tendency of markets involving platforms to become concentrated, competition authorities and courts are more f
We argue that strong globalization forces have been an important determinant of global real interest rates over the last five decades, as they have been key dri
Healthcare in the United States is the most expensive in the world, with real per capita spending growth averaging 4 percent since 1980. This paper examines the