TY  - BOOK
AU  - Diez,Federico J.
AU  - International Monetary Fund
AU  - Fan,Jiayue
AU  - Villegas-Sanchez,Carolina
TI  - Global Declining Competition /Diez, Federico J
T2  - IMF Working Paper
SN  - 9781498311113
AV  - HB238 .G563 2019
PY  - 2019///
CY  - [Washington, D.C.
PB  - International Monetary Fund
KW  - Business enterprises
KW  - Size
KW  - Economic aspects
KW  - Competition
KW  - Markup
KW  - Measurement
KW  - Production functions (Economic theory)
KW  - Electronic Books
N1  - 2; 2; b
N2  - Using a new firm-level dataset on private and listed firms from 20 countries, we document five stylized facts on market power in global markets. First, competition has declined around the world, measured as a moderate increase in average firm markups during 2000- 2015. Second, the markup increase is driven by already high-markup firms (top decile of the markup distribution) that charge increasing markups. Third, markups increased mostly among advanced economies but not in emerging markets. Fourth, there is a non-monotonic relation between firm size and markups that is first decreasing and then increasing. Finally, the increase is mostly driven by increases within incumbents and also by market share reallocation towards high-markup entrants
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ER  -