From Good to Bad Concentration? US Industries over the Past 30 Years
Germán Gutiérrez and
NBER Macroeconomics Annual, 2020, vol. 34, issue 1, 1 - 46
We study the evolution of profits, investment, and market shares in US industries over the past 40 years. During the 1990s, and at low levels of initial concentration, we find evidence of efficient concentration driven by tougher price competition, intangible investment, and increasing productivity of leaders. After 2000, however, the evidence suggests inefficient concentration, decreasing competition, and increasing barriers to entry as leaders become more entrenched and concentration is associated with lower investment, higher prices, and lower productivity growth.
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
Access to the online full text or PDF requires a subscription.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ucp:macann:doi:10.1086/707169
Access Statistics for this article
More articles in NBER Macroeconomics Annual from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().