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155 records from EconBiz based on author Name
1. The anatomy of costs and firm performance evidence from Belgium
abstractWe separately observe variable input expenditure and expenditure on fixed inputs in novel firm-level data covering the Belgian manufacturing sector over the last decades. This permits a deeper investigation of two potential drivers of the globally observed widening gap between firms' revenue and variable input expenditure: technology and market power. Across the board, cost structures have become less reliant on variable input expenditure over time, while expenditure on fixed inputs or overhead costs has increased in prominence. We relate these changes in firms' cost structures to performance measures and document that markups and gross profit rates increase substantially as the role of variable costs in production diminishes. Profit rates net of fixed input expenditure also increase, but by substantially less than gross profit rates. Our results suggest that technological change can explain a considerable portion of the widening gap between revenue and variable input expenditure, but that markups increase by more than necessary to break even, and that this phenomenon operates remarkably similarly across different firms and industries.
De Loecker, Jan; Fuss, Catherine; Quiller-Doust, Nathan; Treuren, Leonard;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link Link 2. Firms and inequality
De Loecker, Jan; Obermeier, Tim; Van Reenen, John;2022
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link Link 3. Are managers paid for market power?
Bao, Renjie; Eeckhout, Jan; De Loecker, Jan;2022
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability: Link Link
4. Are Managers Paid for Market Power?
abstractTo answer the question whether managers are paid for market power, we propose a theory of executive compensation in an economy where firms have market power, and the market for man- agers is competitive. We identify two distinct channels that contribute to manager pay in the model: market power and firm size. Both increase the profitability of the firm, which makes managers more valuable as it increases their marginal product. Using data on executive compensation from Com- pustat, we quantitatively analyze how market power affects Manager Pay and how it changes over time. We attribute on average 45.8% of Manager Pay to market power, from 38.0% in 1994 to 48.8% in 2019. Over this period, market power accounts for 57.8% of growth. We also find there is a lot of heterogeneity within the distribution of managers. For the top managers, 80.3% of their pay in 2019 is due to market power. Top managers are hired disproportionately by firms with market power, and they get rewarded for it, increasingly so
Bao, Renjie; De Loecker, Jan; Eeckhout, Jan;2022
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link Link
5. Are managers paid for market power?
Bao, Renjie; Eeckhout, Jan; De Loecker, Jan;2022
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link 6. Two Wrongs Can Sometimes Make a Right : The Environmental Benefits of Market Power in Oil
abstractMarket power reduces equilibrium quantities and distorts production, typically causing welfare losses. However, as Buchanan (1969) noted, market power may mitigate overproduction from negative externalities. This paper examines this in the global oil market, where OPEC's market power affects oil production and carbon intensity. We estimate that from 1970 to 2021, OPEC's market power reduced emissions by over 67 GtCO2, equating to $4,073 billion in climate damages and 17.8% of the carbon budget needed for the 1.5◦ C Paris Agreement target. This environmental benefit outweighs the welfare loss from distorted production allocation
Asker, John; Collard-Wexler, Allan; De Canniere, Charlotte; De Loecker, Jan; Knittel, Christopher R.;2024
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link Link
7. Production function identification under imperfect competition
Ackerberg, Daniel A.; De Loecker, Jan;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
8. The anatomy of costs and firm performance evidence from Belgium
De Loecker, Jan; Fuss, Catherine; Quiller-Doust, Nathan; Treuren, Leonard;2024
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link 9. Quantifying market power and business dynamism in the macroeconomy
De Loecker, Jan; Eeckhout, Jan; Mongey, Simon;2021
Type: Graue Literatur; Non-commercial literature; Arbeitspapier; Working Paper;
Availability:
Link 10. An Industrial Organization Perspective on Productivity
abstractThis chapter overviews productivity research from an industrial organization perspective. We focus on what is known and what still needs to be learned about the productivity levels and dynamics of individual producers, but also how these interact through markets and industries to influence productivity aggregates. We overview productivity concepts, facts, data, measurement, analysis, and open questions
De Loecker, Jan; Syverson, Chad;2021
Type: Arbeitspapier; Working Paper; Graue Literatur; Non-commercial literature;
Availability: Link Link
Citations: 5 (based on OpenCitations)