The Fall and Rise of Market Power in Europe

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The Fall and Rise of Market Power in Europe. / Weche, John P.; Wambach, Achim.

in: Jahrbucher für Nationalokonomie und Statistik, Jahrgang 241, Nr. 5-6, 01.11.2021, S. 555-575.

Publikation: Beiträge in ZeitschriftenZeitschriftenaufsätzeForschungbegutachtet

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@article{a01a775ef11f4b13b4a028f33cca5fa0,
title = "The Fall and Rise of Market Power in Europe",
abstract = "This paper presents an analysis of the recent developments of average market power in Europe by using a broad firm-level database for EU member states. To indicate competitive pressure at the firm-level, markups are estimated following De Loecker, J. (2011). Recovering markups from production data. Int. J. Ind. Organ. 29: 350-355, and De Loecker, J. and Warzynski, F. (2012). Markups and firm-level export status. Am. Econ. Rev. 102: 2437-2471. The analysis reveals a sharp drop in markups during the crisis, followed by a post-crisis increase. The European average has not yet reached its pre-crisis level, which is in contrast to results for the US, where average markups have climbed to pre-crisis levels already in 2011. There is significant heterogeneity among European economies and the pre-crisis levels do have been exceeded in some countries.",
keywords = "crisis, Europe, market power, markups, Economics",
author = "Weche, {John P.} and Achim Wambach",
year = "2021",
month = nov,
day = "1",
doi = "10.1515/jbnst-2020-0047",
language = "English",
volume = "241",
pages = "555--575",
journal = "Jahrb{\"u}cher f{\"u}r National{\"o}konomie und Statistik",
issn = "0021-4027",
publisher = "Lucius & Lucius",
number = "5-6",

}

RIS

TY - JOUR

T1 - The Fall and Rise of Market Power in Europe

AU - Weche, John P.

AU - Wambach, Achim

PY - 2021/11/1

Y1 - 2021/11/1

N2 - This paper presents an analysis of the recent developments of average market power in Europe by using a broad firm-level database for EU member states. To indicate competitive pressure at the firm-level, markups are estimated following De Loecker, J. (2011). Recovering markups from production data. Int. J. Ind. Organ. 29: 350-355, and De Loecker, J. and Warzynski, F. (2012). Markups and firm-level export status. Am. Econ. Rev. 102: 2437-2471. The analysis reveals a sharp drop in markups during the crisis, followed by a post-crisis increase. The European average has not yet reached its pre-crisis level, which is in contrast to results for the US, where average markups have climbed to pre-crisis levels already in 2011. There is significant heterogeneity among European economies and the pre-crisis levels do have been exceeded in some countries.

AB - This paper presents an analysis of the recent developments of average market power in Europe by using a broad firm-level database for EU member states. To indicate competitive pressure at the firm-level, markups are estimated following De Loecker, J. (2011). Recovering markups from production data. Int. J. Ind. Organ. 29: 350-355, and De Loecker, J. and Warzynski, F. (2012). Markups and firm-level export status. Am. Econ. Rev. 102: 2437-2471. The analysis reveals a sharp drop in markups during the crisis, followed by a post-crisis increase. The European average has not yet reached its pre-crisis level, which is in contrast to results for the US, where average markups have climbed to pre-crisis levels already in 2011. There is significant heterogeneity among European economies and the pre-crisis levels do have been exceeded in some countries.

KW - crisis

KW - Europe

KW - market power

KW - markups

KW - Economics

UR - http://www.scopus.com/inward/record.url?scp=85104803732&partnerID=8YFLogxK

U2 - 10.1515/jbnst-2020-0047

DO - 10.1515/jbnst-2020-0047

M3 - Journal articles

AN - SCOPUS:85104803732

VL - 241

SP - 555

EP - 575

JO - Jahrbücher für Nationalökonomie und Statistik

JF - Jahrbücher für Nationalökonomie und Statistik

SN - 0021-4027

IS - 5-6

ER -

DOI