Results 221 to 230 of about 547,479 (275)

Aggregate Market Power: Measurement, Drivers, and Macroeconomic Effects

open access: yesJournal of Economic Surveys, EarlyView.
ABSTRACT This survey reviews the macroeconomic literature on market power, focusing on its measurement, determinants, and macroeconomic effects. It synthesizes evidence from concentration ratios, business dynamism indicators, and markup/markdown estimates, documenting a distinct change in trends since the 1980s, especially in the United States ...
Maria Alessandra Rossi
wiley   +1 more source

Capital‐Labour Substitution in Macroeconomics: A Survey of Mechanisms, Dynamics and Policy Insights

open access: yesJournal of Economic Surveys, EarlyView.
ABSTRACT Macroeconomic conclusions often hinge on a single, hard‐to‐pin‐down parameter: the elasticity of substitution between capital and labour, σ. This survey synthesises theory and evidence on how results change once we move beyond the Cobb–Douglas benchmark (σ=1$\sigma = 1$).
Francisco Rebelo, Fernando Del Río
wiley   +1 more source

Feedback and Contagion through Distressed Competition

open access: yesThe Journal of Finance, EarlyView.
ABSTRACT Firms tend to compete more aggressively when facing financial distress. This intensified competition reduces profit margins, pushing them further into distress and adversely affecting their industry peers. To study such feedback and contagion effects, we incorporate strategic competition in a dynamic model with long‐term defaultable debt ...
HUI CHEN   +3 more
wiley   +1 more source

Excess Movement in Option‐Implied Beliefs

open access: yesThe Journal of Finance, EarlyView.
ABSTRACT We derive bounds on the rational variation in option‐implied beliefs about market returns. While risk preferences distort option‐implied (or risk‐neutral) beliefs away from subjective beliefs, one can nonetheless bound risk‐neutral belief movement under a general assumption on the stochastic discount factor.
NED AUGENBLICK, EBEN LAZARUS
wiley   +1 more source

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