Rising profitability and market valuations of US businesses, sluggish wage growth and a
declining labor share of income, and reduced unemployment and inflation, have defined the …

We document substantial time‐series and cross‐sectional variation in branch‐level deposit
account interest rates, maintenance fees, and fee thresholds, and examine whether variation …

We develop a tractable general equilibrium framework in which firms are large and have
market power with respect to both products and labor, and in which a firm's decisions are …

We examine the degree of market power in the big four countries of the euro area using
macro and firm-micro data. We focus on three main indicators of market power in and across …

I examine the effects of overlapping ownership on market power when there are external
effects across firms. This is done in an oligopoly model with cost-reducing innovation with …

We use data from the US airline industry to test the hypothesis, consistent with the general
equilibrium oligopoly model of Azar and Vives (forthcoming), that inter-industry common …

Monetary policy aims at affecting corporate borrowing by influencing the marginal costs of
firms, but its potency can be conditioned by the degree of market competition. We first …

Monetary policy aims to affect corporate borrowing by influencing the marginal costs of firms,
but its potency can be conditioned by the degree of market competition. We first identify …

We argue that within-industry investor diversification is directly related to common ownership
incentives (profit loads on rival firms by the manager of a firm) in product markets. Because …

ABSTRACT I study how labor market power affects firm wage differences using German
manufacturing sector firm-level data (1995-2016). In past decades, labor market power …