Rising Corporate Market Power: Emerging Policy Issues

Author: Ufuk Akcigit, Ms. Wenjie Chen, Mr. Federico J Diez, Mr. Romain A Duval, Philipp Engler, Jiayue Fan, Chiara Maggi, Ms. Marina Mendes Tavares, Mr. Daniel A Schwarz, Mr. Ippei Shibata, and Carolina Villegas-Sánchez

Corporate market power has risen in recent decades and will likely increase further as a result of the wave of bankruptcies triggered by the pandemic.

Volume/Issue: Volume 2021 Issue 001

Publication date: March 2021

ISBN: 9781513512082

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Labor , Banks and Banking , Finance , Economics- Macroeconomics , Money and Monetary Policy , Economics / General , Market power , business dynamism , Mergers and acquisitions , competition policy , digital economy , monetary policy , acquiring firm , competition authorities , concentration ratio , analysis point , high-markup firm , growth rates decrease , labor markdown , competition authority , representative firm , computation firm , market concentration , price markup , Competition , Labor markets , Central bank policy rate , Global , market power entrenchment , C , market power , market power increase , B , market power , Eastern Europe

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Summary

Corporate market power has risen in recent decades, and new estimates in this note suggest that the likely wave of small and medium-sized enterprise bankruptcies from the ongoing pandemic will further strengthen market concentration. Whether and how policymakers should address this issue is hotly debated. This note provides new evidence on the policy relevance of rising market power and highlights possible implications for the design of competition policy frameworks and macroeconomic policies.