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Díez, Federico - 2019

power in global markets. First, competition has declinedaround the world, measured as a moderate increase in average firm …

Persistent link: https://www.econbiz.de/10012869288

Competition, Competitiveness and Growth in Sub-Saharan Africa

Chérif, Réda - 2020

Does greater product market competition improve external competitiveness and growth? This paper examines this question … emerging market economies and developing countries, and finds that an improvement in domestic competition is associated with a … productivity growth. Price levels, including of essential items, are also generally lowered with an increase in competition …

Persistent link: https://www.econbiz.de/10012839680

Stay Competitive in the Digital Age : The Future of Banks

Liu, Estelle Xue - 2021

infrastructure, a strong legal and business environment, and healthy competition. Nonetheless, some digital leaders may fall behind …

Persistent link: https://www.econbiz.de/10013226448

Monetary Policy Under Labor Market Power

Burya, Anastasia; Mano, Rui C.; Timmer, Yannick; Weber, Anke - 2022

Using the near universe of online vacancy postings in the U.S., we study the interaction between labor market power and monetary policy. We show empirically that labor market power amplifies the labor demand effects of monetary policy, while not disproportionately affecting wage growth. A search...

Persistent link: https://www.econbiz.de/10014079905

Government Intervention and Bank Market Power : Lessons from the Global Financial Crisis for the COVID-19 Crisis

Tan, Brandon Joel; Igan, Deniz; Martínez Pería, … - 2021

The COVID-19 pandemic could result in large government interventions in the banking industry. To shed light on the possible consequences on market power, we rely on the experience of the global financial crisis and exploit granular data on government interventions in more than 800 banks across...

Persistent link: https://www.econbiz.de/10013250086

Global Market Power and its Macroeconomic Implications

Díez, Federico J - 2018

We estimate the evolution of markups of publicly traded firms in 74 economies from 1980-2016. In advanced economies, markups have increased by an average of 39 percent since 1980. The increase is broad-based across industries and countries, and driven by the highest markup firms in each economic...

Persistent link: https://www.econbiz.de/10012913886

Japan Out of the Lost Decade : Divine Wind or Firms' Effort?

Ogawa, Kazuo - 2012

A surge of exports in the 2000s helped Japan exit the severe decade-long stagnation known as the lost decade. Using panel data of Japanese exporting firms, we examine the sources of the export surge during this period. One view argues that the so-called "divine wind" or exogenous external demand...

Persistent link: https://www.econbiz.de/10013098633

Globalization, Market Power, and the Natural Interest Rate

Natal, Jean-Marc - 2019

We argue that strong globalization forces have been an important determinant of globalreal interest rates over the last five decades, as they have been key drivers of changes inthe natural real interest rate-i.e. the interest rate consistent with output at its potentialand constant inflation. An...

Persistent link: https://www.econbiz.de/10012868461

International Trade and Corporate Market Power

Gonzalez-Garcia, Jesus - 2020

This paper examines the effect of international trade on corporate market power in emerging market economies and developing countries, with a special focus on sub-Saharan Africa. The analysis is based on a large firm-level dataset, tariff data by sector and aggregate indicators of international...

Persistent link: https://www.econbiz.de/10012826015

Market Power and Monetary Policy Transmission

Duval, Romain; Furceri, Davide; Lee, Raphael; Mendes … - 2022

We show that firms’ market power dampens the response of their output to monetary policy shocks, using firm-level data for the United States and a large cross-country firm-level dataset for 14 advanced economies. The estimated impact of a firm’s markup on its response to a monetary policy...

Persistent link: https://www.econbiz.de/10013306777