| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16156 |
| DP16156 Monopolistic price setting behavior of IT firms | |
| Coen N. Teulings; Ellen Van 't Klooster | |
| 发表日期 | 2021-05-14 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | De Loecker et al. (2020) have shown that markups of publicly traded firms have risen since 1980 in the US. They find that this rise cannot be attributed to a particular sector. Using the same data, this paper shows that the increase in markup is concentrated among IT firms. Firms can be classified as IT or non-IT based on industry codes, but this method ignores a number of IT firms outside specific IT industries, e.g. Amazon and Uber. We develop an alternative, firm-level classification method, by applying natural language processing (NLP) to the description of firms’ activities in Compustat. After classifying firms as IT and non-IT, we show that markups in the period since 1980 fall apart in two episodes. In the first, from 1980 until 1996, non-IT firms recovered from the fall of markups in the seventies. In the second episode, since 1996, markups of IT firms exploded from 46% in 1996 to 94% in 2017, while the markup of non-IT firms was largely stagnant. |
| 主题 | Labour Economics |
| 关键词 | Information technology market power Markup |
| URL | https://cepr.org/publications/dp16156 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545129 |
| 推荐引用方式 GB/T 7714 | Coen N. Teulings,Ellen Van 't Klooster. DP16156 Monopolistic price setting behavior of IT firms. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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