This paper presents robust panel data econometric evidence suggesting that more effective competition policy curtails the exercise of market power because countries in which competition policy is judged to be more effective are characterised by lower market price-cost margins, controlling for...

Gibrat's law is augmented to produce a more general stochastic model of concentration consisting of growth, entry, and exit processes. Empirical facts on growth, entry, and exit reported elsewhere are employed to calibrate the model, which is then repeatedly simulated, generating concentration...

Numerous methods have been proposed for calculating the Gini coefficient, the most widely used statistical measure of income inequality. The Milanovic (Bulletin of Economic Research, 46, 81-90, 1994) measure is simple, accurate and has attractive decomposition properties. However its use is...