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Industrial Organization and The Rise of Market Power

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  • Nathan H. Miller

Abstract

This article addresses developments in the literature on The Rise of Market Power. First, it summarizes research about the result of De Loecker 2020 that the sales-weighted average markup has increased in the United States. Second, it summarizes and evaluates a set of industry studies that examine market power over long time horizons in specific settings. A theme that emerges from these industry studies is that technological advancements matter a great deal for the evolution of economic outcomes. By contrast, the studies do not point to weak antitrust enforcement as contributing to greater market power. The article concludes by outlining directions for future research.

Suggested Citation

  • Nathan H. Miller, 2024. "Industrial Organization and The Rise of Market Power," NBER Working Papers 32627, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:32627
    Note: IO
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    More about this item

    JEL classification:

    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L40 - Industrial Organization - - Antitrust Issues and Policies - - - General
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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