We find that markups increased by about 30 percent on average during the sample period. The change is mainly due to lower costs, as real prices increased only slightly from 2006 to 2019. Our estimates show that consumers are more price sensitive over time.
That’s according to a new NBER working paper on
…the physical evidence related to concentration trends, marking trends, and consolidation effects does not actually show a widespread decline in competition. Nor does it provide a basis for dramatic changes in antitrust policy. On the contrary, in many respects the evidence shows that the changes observed in many industries may reflect competition in action.
The roof, the people…
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