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Displaying results 1 to 10 of 10.

  1. Do larger firms exert more market power?
    markups and markdowns along the size distribution
    Author: Mertens, Matthias; Mottironi, Bernardo
    Published: [2023?]
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    Several models posit a positive cross-sectional correlation between markups and firm size, which characterizes misallocation, factor shares, and gains from trade. Accounting for labor market power in markup estimation, we find instead that larger... more

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    Several models posit a positive cross-sectional correlation between markups and firm size, which characterizes misallocation, factor shares, and gains from trade. Accounting for labor market power in markup estimation, we find instead that larger firms have lower product markups but higher wage markdowns. The negative markup-size correlation turns positive when conditioning on markdowns, suggesting interactions between product and labor market power. Our findings are robust to common criticism (e.g., price bias, non-neutral technology) and hold across 19 European countries. We discuss possible mechanisms and resulting implications, highlighting the importance of studying input and output market power in a unified framework.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/276958
    Edition: This version: September 18, 2023
    Series: IWH discussion papers ; 2023, no. 1 (January 2023) [rev.]
    Subjects: firm size; markdowns; market power; markups
    Scope: 1 Online-Ressource (III, 55 Seiten, 3,49 MB), Diagramme
  2. Do larger firms exert more market power?
    markups and markdowns along the size distribution
    Author: Mertens, Matthias; Mottironi, Bernardo
    Published: [2023?]
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    Several models posit a positive cross-sectional correlation between markups and firm size, which characterizes misallocation, factor shares, and gains from trade. Accounting for labor market power in markup estimation, we find instead that larger... more

    Access:
    Array (Einzellizenz)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
    Signature:
    eBook
    Inter-library loan:
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 577
    Inter-library loan:
    No inter-library loan

     

    Several models posit a positive cross-sectional correlation between markups and firm size, which characterizes misallocation, factor shares, and gains from trade. Accounting for labor market power in markup estimation, we find instead that larger firms have lower product markups but higher wage markdowns. The negative markup-size correlation turns positive when conditioning on markdowns, suggesting interactions between product and labor market power. Our findings are robust to common criticism (e.g., price bias, non-neutral technology) and hold across 19 European countries. We discuss possible mechanisms and resulting implications, highlighting the importance of studying input and output market power in a unified framework.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/276959
    Edition: This version: September 18, 2023
    Series: IWH-CompNet Discussion Papers ; 2023, no. 1 (January 2023) [rev.]
    Subjects: firm size; markdowns; market power; markups
    Scope: 1 Online-Ressource (III, 55 Seiten, 3,31 MB), Diagramme
    Notes:

    Literaturverzeichnis: Seite 31-36, Seite 55
  3. Declining business dynamism in Europe
    the role of shocks, market power, and technology
    Author: Biondi, Filippo; Inferrera, Sergio; Mertens, Matthias; Miranda, Javier
    Published: September 2023
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    We study the changing patterns of business dynamism in Europe after 2000 using novel micro-aggregated data that we collect for 19 European countries. In all of them, we document a decline in job reallocation rates that concerns most economic sectors.... more

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    Location:
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    Signature:
    DS 577
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    We study the changing patterns of business dynamism in Europe after 2000 using novel micro-aggregated data that we collect for 19 European countries. In all of them, we document a decline in job reallocation rates that concerns most economic sectors. This is mainly driven by dynamics within sectors, size classes, and age classes rather than by compositional changes. Large and mature firms show the strongest decline in job reallocation rates. Simultaneously, the shares of employment and sales of young firms decline. Consistent with US evidence, firms’ employment changes have become less responsive to productivity. However, the dispersion of firms’ productivity shocks has decreased too. To enhance our understanding of these patterns, we derive a firm-level framework that relates changes in firms’ productivity, market power, and technology to job reallocation and firms’ responsiveness.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/277759
    Series: IWH-CompNet Discussion Papers ; 2023, no. 2 (September 2023)
    Subjects: business dynamism; European cross-country data; market power; productivity; responsiveness of labor demand
    Scope: 1 Online-Ressource (III, 92 Seiten, 1,16 MB), Diagramme
    Notes:

    Datei wurde von der herausgebenden Institution entfernt
  4. Declining business dynamism in Europe
    the role of shocks, market power, and technology
    Author: Biondi, Filippo; Inferrera, Sergio; Mertens, Matthias; Miranda, Javier
    Published: September 2023
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    We study the changing patterns of business dynamism in Europe after 2000 using novel micro-aggregated data that we collect for 19 European countries. In all of them, we document a decline in job reallocation rates that concerns most economic sectors.... more

    Access:
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    Location:
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    eBook
    Inter-library loan:
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 13
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    We study the changing patterns of business dynamism in Europe after 2000 using novel micro-aggregated data that we collect for 19 European countries. In all of them, we document a decline in job reallocation rates that concerns most economic sectors. This is mainly driven by dynamics within sectors, size classes, and age classes rather than by compositional changes. Large and mature firms show the strongest decline in job reallocation rates. Simultaneously, the shares of employment and sales of young firms decline. Consistent with US evidence, firms’ employment changes have become less responsive to productivity. However, the dispersion of firms’ productivity shocks has decreased too. To enhance our understanding of these patterns, we derive a firm-level framework that relates changes in firms’ productivity, market power, and technology to job reallocation and firms’ responsiveness.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/277760
    Series: IWH discussion papers ; no. 19 (September 2023)
    Subjects: business dynamism; European cross-country data; market power; productivity; responsiveness of labor demand
    Scope: 1 Online-Ressource (III, 92 Seiten, 1,34 MB), Diagramme
    Notes:

    Literaturverzeichnis: Seite 44-46

    Datei wurde von der herausgebenden Institution entfernt
  5. Minimum wages, productivity, and reallocation
    Author: Hälbig, Mirja; Mertens, Matthias; Müller, Steffen
    Published: April 2023
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    We study the productivity effect of the German national minimum wage by applying administrative firm data. At the firm level, we confirm positive effects on wages and negative employment effects and document higher productivity even net of output... more

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    We study the productivity effect of the German national minimum wage by applying administrative firm data. At the firm level, we confirm positive effects on wages and negative employment effects and document higher productivity even net of output price increases. We find higher wages but no employment effects at the level of aggregate industry × region cells. The minimum wage increased aggregate productivity in manufacturing. We do not find that employment reallocation across firms contributed to these aggregate productivity gains, nor do we find improvements in allocative efficiency. Instead, the productivity gains from the minimum wage result from within-firm productivity improvements only.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/270976
    Series: IWH discussion papers ; 2023, no. 8 (April 2023)
    Subjects: minimum wage; productivity; reallocation
    Scope: 1 Online-Ressource (III, 69 Seiten, 1,31 MB), Diagramme
    Notes:

    Literaturverzeichnis: Seite 33-37
  6. Minimum wages, productivity, and reallocation
    Author: Haelbig, Mirja; Mertens, Matthias; Müller, Steffen
    Published: May 2023
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    We study the productivity effect of the German national minimum wage by applying administrative firm data. At the firm level, we confirm positive effects on wages and negative employment effects and document higher productivity even net of output... more

    Access:
    Verlag (kostenfrei)
    Verlag (kostenfrei)
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 4
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    We study the productivity effect of the German national minimum wage by applying administrative firm data. At the firm level, we confirm positive effects on wages and negative employment effects and document higher productivity even net of output price increases. We find higher wages but no employment effects at the level of aggregate industry×region cells. The minimum wage increased aggregate productivity in manufacturing. We do not find that employment reallocation across firms contributed to these aggregate productivity gains, nor do we find improvements in allocative efficiency. Instead, the productivity gains from the minimum wage result from within-firm productivity improvements only.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/278858
    Series: Discussion paper series / IZA ; no. 16160
    Subjects: minimum wage; firm productivity; output prices; factor reallocation
    Scope: 1 Online-Ressource (circa 72 Seiten), Illustrationen
  7. Declining business dynamism in Europe
    the role of shocks, market power, and technology
    Author: Biondi, Filippo; Inferrera, Sergio; Mertens, Matthias; Miranda, Javier
    Published: [2023]
    Publisher:  Friedrich Schiller University Jena, Faculty of Economics and Business Administration, Jena, Germany

    We study the changing patterns of business dynamism in Europe after 2000 using novel micro-aggregated data that we collect for 19 European countries. In all of them, we document a decline in job reallocation rates that concerns most economic sectors.... more

    Access:
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    DS 78
    Inter-library loan:
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    We study the changing patterns of business dynamism in Europe after 2000 using novel micro-aggregated data that we collect for 19 European countries. In all of them, we document a decline in job reallocation rates that concerns most economic sectors. This is mainly driven by dynamics within sectors, size classes, and age classes rather than by compositional changes. Large and mature firms show the strongest decline in job reallocation rates. Simultaneously, the shares of employment and sales of young firms decline. Consistent with US evidence, firms' employment changes have become less responsive to productivity. However, the dispersion of firms' productivity shocks has decreased too. To enhance our understanding of these patterns, we derive a firm-level framework that relates changes in firms' productivity, market power, and technology to job reallocation and firms' responsiveness.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/283182
    Edition: This version: September 19, 2023
    Series: Jena economic research papers ; # 2023, 011
    Subjects: Business dynamism; productivity; responsiveness of labor demand; market power; European cross-country data
    Scope: 1 Online-Ressource (circa 95 Seiten), Illustrationen
  8. Do larger firms exert more market power?
    markups and markdowns along the size distribution
    Author: Mertens, Matthias; Mottironi, Bernardo
    Published: [2023]
    Publisher:  Centre for Economic Performance, London School of Economics and Political Science, London

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    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion paper / Centre for Economic Performance ; no. 1945 (September 2023)
    Subjects: markups; markdowns; market power; firm size
    Scope: 1 Online-Ressource (circa 58 Seiten), Illustrationen
  9. Do larger firms have higher markups?
    Author: Mertens, Matthias; Mottironi, Bernardo
    Published: January 2023
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    Several models posit a positive cross-sectional correlation between markups and firm size, which, among others, characterizes misallocation, factor shares, and gains from trade. Yet, taking labor market power into account in markup estimation, we... more

    Access:
    Array (Einzellizenz)
    Verlag (kostenfrei)
    Resolving-System (lizenzpflichtig)
    Verlag (lizenzpflichtig)

    Location:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    Universitäts- und Landesbibliothek Sachsen-Anhalt / Zentrale
    Signature:
    eBook
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 13
    Inter-library loan:
    No inter-library loan

     

    Several models posit a positive cross-sectional correlation between markups and firm size, which, among others, characterizes misallocation, factor shares, and gains from trade. Yet, taking labor market power into account in markup estimation, we show that larger firms have lower markups. This correlation turns positive only after conditioning on wage markdowns, suggesting interactions between product and labor market power. Our findings are robust to common criticism (e.g., price bias) and hold across 19 European countries. We discuss the resulting implications and highlight studying input and output market power within an integrated framework as an important next step for future research.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/268403
    Series: IWH discussion papers ; 2023, no. 1 (January 2023)
    Subjects: firm size; markdowns; market power; markups
    Scope: 1 Online-Ressource (III, 68 Seiten, 3,32 MB), Diagramme
    Notes:

    Literaturverzeichnis: Seite 67-68
  10. Do larger firms have higher markups?
    Author: Mertens, Matthias; Mottironi, Bernardo
    Published: [2023]
    Publisher:  Halle Institute for Economic Research (IWH) - Member of the Leibniz Association, Halle (Saale), Germany

    Several models posit a positive cross-sectional correlation between markups and firm size, which, among others, characterizes misallocation, factor shares, and gains from trade. Yet, taking labor market power into account in markup estimation, we... more

    Access:
    Resolving-System (lizenzpflichtig)

    Location:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 577
    Inter-library loan:
    No inter-library loan

     

    Several models posit a positive cross-sectional correlation between markups and firm size, which, among others, characterizes misallocation, factor shares, and gains from trade. Yet, taking labor market power into account in markup estimation, we show that larger firms have lower markups. This correlation turns positive only after conditioning on wage markdowns, suggesting interactions between product and labor market power. Our findings are robust to common criticism (e.g., price bias) and hold across 19 European countries. We discuss the resulting implications and highlight studying input and output market power within an integrated framework as an important next step for future research.

     
    Export to reference management software   RIS file
      BibTeX file
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/268444
    Series: IWH-CompNet Discussion Papers ; 2023, no. 1 (January 2023)
    Subjects: firm size; markdowns; market power; markups
    Scope: 1 Online-Ressource (circa 72 Seiten), Illustrationen
    Notes:

    Datei wurde von der herausgebenden Institution entfernt