Interest in market power has recently surged among economists in many fields, well beyond
its traditional home in industrial organization. This has focused empirical attention on …

How stringent is antitrust enforcement in the United States? We address this question by
documenting the effects of completed mergers in consumer packaged goods and predicting …

Using data on the age distribution of the population of 40 countries for the period 1980-2016
as well as markup estimates from De Loecker and Eeckhout (2021), I show that there is a …

We study the effect of stronger patent protection on innovation activities of firms and firm-
product level markups. Relying on cross-industry differences in the use of patents, we exploit …

We examine merging firms' additions and removals of products for a sample of 66 mergers
across a wide variety of consumer packaged goods markets. We find that mergers lead to a …

To accommodate richer substitution patterns, researchers have specified, without much
explanation, discrete choice models in which prices enter with product-dependent …

I critique recent theoretical and empirical research that suggests that labor markets are not
nearly as competitive as has generally been assumed. I argue that no-poaching agreements …

This dissertation comprises three chapters. The first chapter investigates the gradual rise in
the size of firms' production capacity buffers in the United States since the 1960s. The study …

Why did the Phillips curve gradually flatten since the 1960s, and what explained its sudden
steepness in the goods sector during the COVID-19 pandemic? Firms face capacity …

Over the course of the past five decades, several puzzling macroeconomic trends have
caught the eye of economists and policymakers alike. The rise of market power, the decline …