Calendrier du 28 mars 2022
Roy Seminar (ADRES)
Du 28/03/2022 de 17:00 à 18:15
Salle R2.01 - Campus Jourdan 75014 Paris
GOLUB Ben (Northwestern University)
Taxes and Market Power: A Network Approach
écrit avec Andrea Galeotti, Benjamin Golub, Sanjeev Goyal, Eduard Talamas, Omer Tamuz
Suppliers of differentiated goods make simultaneous pricing decisions, which are strategically linked. Because of market power, the equilibrium is inefficient. We study how a policymaker should target a budget-balanced tax-and-subsidy policy to increase welfare. A key tool is a certain basis for the goods space, determined by the network of interactions among suppliers. It consists of eigenbundles---orthogonal in the sense that a tax on any eigenbundle passes through only to its own price---with pass-through coefficients determined by associated eigenvalues. Our basis permits a simple characterization of optimal interventions. A planner maximizing consumer surplus should tax eigenbundles with low pass-through and subsidize ones with high pass-through. The Pigouvian leverage of the system---the gain in consumer surplus achievable by an optimal tax scheme---depends only on the dispersion of the eigenvalues of the matrix of strategic interactions. We interpret these results in terms of the network structure of the market.
GSIELM (Graduate Students International Economics and Labor Market) Lunch Seminar
Du 28/03/2022 de 13:00 à 14:00
Maison des Sciences Economiques, Salle S/03
VERDINI Daniele (UCLouvain, FNRS)
Globalization and Market Power
écrit avec Catherine Fuss (National Bank of Belgium) & Lorenzo Trimarchi (University of Namur)
Recent decades have been characterized by a substantial increase in firms' market power both in the U.S. and the EU. In this paper, we study the role played by globalization in determining the evolution of this phenomenon. We use detail firm-level balance sheet and trade data for Belgian manufacturing over the period 2000-2015, and following the identification strategy proposed in Acemoglu et al. (2016), we provide a causal analysis of the impact of rising trade exposure on various measures of market power. Along standard concentration measures, we estimate firm-level markups over the period by applying De Loecker and Warzynski (2012) methodology. We estimate that, following the surge of Chinese import competition, relatively more exposed industries do experience an increase in markups over time. These changes are not driven by reallocation between firms, but by within adjustments of the incumbents.
Régulation et Environnement
Du 28/03/2022 de 12:00 à 13:15
Salle R2.21, Campus Jourdan 75014 Paris
DOBKOWITZ Sonja (University of Bonn)
Redistribution, Demand, and Sustainable Production