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A Study of Institutional Drift
Until the 1990's, US markets were more competitive than European markets. Today, European markets have lower concentration, lower excess profits, and ...
We propose a model to identify the causes of rising profits and concentration, and declining entry and investment in the US economy. Our approach comb...
We study the evolution of super star firms in the U.S. economy over the past 60 years. Contrary to common wisdom, sup-er stars firms have not become l...