Department Profiles
Research Profiles of the IWH Departments All doctoral students are allocated to one...
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Mayer ref rec
Referierte Publikationen ...
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PhD Graduates Financial Markets
PhD Graduates of the Department of Financial Markets Willam McShane: "The...
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IWH-FDI-Mikrodatenbank
IWH-FDI-Mikrodatenbank Die IWH-FDI-Mikrodatenbank (FDI = Foreign Direct Investment)...
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CompNet Database
The CompNet Competitiveness Database The Competitiveness Research Network (CompNet)...
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Brown Bag Seminar
Brown Bag Seminar Financial Markets Department In der Seminarreihe "Brown...
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Sources of Large Firms’ Market Power and Why It Matters
Filippo di Mauro, Matthias Mertens, Bernardo Mottironi
VOXEU COLUMN,
January
2023
Abstract
Excessive market power has detrimental effects on the functioning of the economy, raising consumer prices, distorting the allocation of resources, and creating welfare losses. The existing literature has largely focussed on competition in product markets. This column argues that it is important to differentiate between various sources of firm market power on output and input (most notably labour) markets. European firm-level data reveals that large firms charge lower markups in product markets but exert their market power significantly in labour markets. Competition authorities can and must distinguish between the sources of market power when attempting to regulate it.
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The Cleansing Effect of Banking Crises
Reint E. Gropp, Steven Ongena, Jörg Rocholl, Vahid Saadi
Economic Inquiry,
Nr. 3,
2022
Abstract
We assess the cleansing effects of the 2008–2009 financial crisis. U.S. regions with higher levels of supervisory forbearance on distressed banks see less restructuring in the real sector: fewer establishments, firms, and jobs are lost when more distressed banks remain in business. In these regions, the banking sector has been less healthy for several years after the crisis. Regions with less forbearance experience higher productivity growth after the crisis with more firm entries, job creation, and employment, wages, patents, and output growth. Forbearance is greater for state-chartered banks and in regions with weaker banking competition and more independent banks.
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The Urban Wage Premium in Imperfect Labor Markets
Boris Hirsch, Elke J. Jahn, Alan Manning, Michael Oberfichtner
Journal of Human Resources,
April
2022
Abstract
Using administrative data for West Germany, this paper investigates whether part of the urban wage premium stems from greater competition in denser labor markets. We show that employers possess less wage-setting power in denser markets. We further document that an important part of the observed urban wage premia can be explained by greater competition in denser labor markets.
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Immigration and Entrepreneurship in the United States
Pierre Azoulay, Benjamin Jones, J. Daniel Kim, Javier Miranda
American Economic Review: Insights,
Nr. 1,
2022
Abstract
Immigration can expand labor supply and create greater competition for native-born workers. But immigrants may also start new firms, expanding labor demand. This paper uses U.S. administrative data and other data resources to study the role of immigrants in entrepreneurship. We ask how often immigrants start companies, how many jobs these firms create, and how these firms compare with those founded by U.S.-born individuals. A simple model provides a measurement framework for addressing the dual roles of immigrants as founders and workers. The findings suggest that immigrants act more as "job creators" than "job takers" and that non-U.S. born founders play outsized roles in U.S. high-growth entrepreneurship
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