This paper uses new data to reexamine trends in concentration in US markets from 1994 to
2019. The paper's main contribution is to construct concentration measures that reflect …

The rise in markups and market power documented by De Loecker, Eeckhout, and Unger
(2020) has recently generated much discussion in economics. We measure the correlation …

We explore the impact of investors' beliefs on cryptocurrency demand and prices using new
individual-level survey data and a structural characteristics-based demand model with …

This paper uses the 2015 Volkswagen (VW) emissions scandal as a natural experiment to
provide evidence that collective reputation externalities are economically significant. Using a …

We provide a general framework for incorporating many types of micro data from summary
statistics to full surveys of selected consumers into Berry, Levinsohn, and Pakes (1995)-style …

We document the effects of a comprehensive set of US retail mergers. On average, prices
increase by 1.5% and quantities decrease by 2.3%, with significant heterogeneity in …

In this paper I show that consumers in food stores and supermarkets/hypermarkets became
significantly less price sensitive between 2006 and 2017. At the median, across thousands …

This paper studies the intermediation of auto loans through auto dealers using new and
comprehensive administrative data. The arrangements between auto dealers and lenders …

We study changes in markups across 72 product markets from 2006 to 2018. A growing
literature has documented a rise in markups over time using a production function approach; …

Abstract The Law of Diminishing Elasticity of Demand (Harrod 1936) conjectures that price
elasticity declines with income. I provide empirical evidence in support of Harrod's …