| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28495 |
| 来源ID | Working Paper 28495 |
| The \u201cMatthew Effect\u201d and Market Concentration: Search Complementarities and Monopsony Power | |
| Jesús Fernández-Villaverde; Federico Mandelman; Yang Yu; Francesco Zanetti | |
| 发表日期 | 2021-03-01 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper develops a dynamic general equilibrium model with heterogeneous firms that face search complementarities in the formation of vendor contracts. Search complementarities amplify small differences in productivity among firms. Market concentration fosters monopsony power in the labor market, magnifying profits and further enhancing high-productivity firms' output share. Firms want to get bigger and hire more workers, in stark contrast with the classic monopsony model, where a firm aims to reduce the amount of labor it hires. The combination of search complementarities and monopsony power induces a strong “Matthew effect” that endogenously generates superstar firms out of uniform idiosyncratic productivity distributions. Reductions in search costs increase market concentration, lower the labor income share, and increase wage inequality. |
| 主题 | Microeconomics ; Mathematical Tools ; Macroeconomics ; Business Cycles |
| URL | https://www.nber.org/papers/w28495 |
| 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/586167 |
| 推荐引用方式 GB/T 7714 | Jesús Fernández-Villaverde,Federico Mandelman,Yang Yu,et al. The \u201cMatthew Effect\u201d and Market Concentration: Search Complementarities and Monopsony Power. 2021. |
| 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 | ||
| w28495.pdf（1044KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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