Creative destruction in local markets

This article uses a panel of Texas restaurants' and bars' alcohol to measure the pace of creative destruction--the ongoing replacement of unproductive competitors with the new firms--and it investigates whether producers in more concentrated markets might use their market power to stabilize the industry structure. The authors find the opposite to be true: Local markets with more concentrated alcohol sales display more creative destruction.

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Year of publication:	2004
Authors:	Abbring, Jaap H. ; Campbell, Jeffrey R.
Published in:	Economic Perspectives. - Federal Reserve Bank of Chicago. - 2004, Q II, v. 28, no. 2, p. 50-60
Publisher:	Federal Reserve Bank of Chicago
Subject:	Competition \| Markets

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005373262