Mark-ups in the digital era

Sara Calligaris, Chiara Criscuolo and Luca Marcolin

CEP Discussion Papers from Centre for Economic Performance, LSE

Abstract: Relying on a novel dataset which combines balance sheet data on firms, patents, and industry-level proxies of technology for 25 countries in the period 2001-2014, we document an increase in mark-ups over time, mainly driven by firms in the top half of the mark-up distribution, and a significant and increasing "mark-up gap" between firms in digital intensive and less digital intensive industries. Second, we show that the intangible components of the digital transformation, matter above all others for firm mark-up, and that this is not explained by the industry's fixed-cost structure, concentration, openness to trade and product market regulation.

Keywords: mark-ups; market power; digitalisation; intangible assets (search for similar items in EconPapers)
Date: 2024-04-29
New Economics Papers: this item is included in nep-com, nep-ind, nep-reg and nep-tid
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