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Diverging Trends in National and Local Concentration

Esteban Rossi-Hansberg (), Pierre-Daniel Sarte and Nicholas Trachter

No 13174, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Using U.S. NETS data, we present evidence that the positive trend observed in national product-market concentration between 1990 and 2014 becomes a negative trend when we focus on measures of local concentration. We document diverging trends for several geographic definitions of local markets. SIC 8 industries with diverging trends are pervasive across sectors. In these industries, top firms have contributed to the amplification of both trends. When a top firm opens a plant, local concentration declines and remains lower for at least 7 years. Our findings, therefore, reconcile the increasing national role of large firms with falling local concentration, and a likely more competitive local environment.

JEL-codes: E23 L11 R12 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-com, nep-ind, nep-lma and nep-ure
Date: 2018-09
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