注意力从好到坏?过去30年的美国工业

IF 7.5 1区经济学 Q1 ECONOMICS

Nber Macroeconomics Annual Pub Date : 2019-06-01 DOI:10.1086/707169

Matías Covarrubias, G. Gutiérrez, Thomas Philippon

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引用次数: 84

摘要

我们研究了过去40年美国工业利润、投资和市场份额的演变。在20世纪90年代，在初始集中度较低的情况下，我们发现了由更激烈的价格竞争、无形投资和领导者生产率提高驱动的有效集中度的证据。然而，在2000年之后，证据表明，低效率的集中，减少竞争，进入壁垒增加，因为领导者变得更加根深蒂固，集中与更低的投资，更高的价格和更低的生产率增长有关。

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From Good to Bad Concentration? US Industries over the Past 30 Years

We study the evolution of profits, investment, and market shares in US industries over the past 40 years. During the 1990s, and at low levels of initial concentration, we find evidence of efficient concentration driven by tougher price competition, intangible investment, and increasing productivity of leaders. After 2000, however, the evidence suggests inefficient concentration, decreasing competition, and increasing barriers to entry as leaders become more entrenched and concentration is associated with lower investment, higher prices, and lower productivity growth.

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来源期刊

Nber Macroeconomics Annual ECONOMICS-

CiteScore

5.10

自引率

0.00%

发文量

期刊介绍： The Nber Macroeconomics Annual provides a forum for important debates in contemporary macroeconomics and major developments in the theory of macroeconomic analysis and policy that include leading economists from a variety of fields.