| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24800 |
| 来源ID | Working Paper 24800 |
| How Costly Are Markups? | |
| Chris Edmond; Virgiliu Midrigan; Daniel Yi Xu | |
| 发表日期 | 2018-07-16 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We study the welfare costs of markups in a dynamic model with heterogeneous firms and endogenously variable markups. We find that the welfare costs of markups are large. We decompose the costs of markups into three channels: (i) an aggregate markup that acts like a uniform output tax, (ii) misallocation of factors of production, and (iii) an inefficiently low rate of entry. We find that the aggregate markup accounts for about two-thirds of the costs, misallocation accounts for about one-third, and the costs due to inefficient entry are negligible. We evaluate simple policies aimed at reducing the costs of markups. Subsidizing entry is not an effective tool in our model: while more competition reduces individual firms' markups it also reallocates market shares towards larger firms and the net effect is that the aggregate markup hardly changes. Size-dependent policies aimed at reducing concentration can reduce the aggregate markup but have the side effect of greatly increasing misallocation and reducing aggregate productivity. |
| 主题 | Microeconomics ; Macroeconomics ; Industrial Organization ; Market Structure and Firm Performance ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w24800 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582474 |
| 推荐引用方式 GB/T 7714 | Chris Edmond,Virgiliu Midrigan,Daniel Yi Xu. How Costly Are Markups?. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24800.pdf（2085KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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