On the General Equilibrium Effects of Market Power

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dc.contributor.author Moreno, Diego
dc.contributor.author Petrakis, Emmanuel
dc.contributor.editor Universidad Carlos III de Madrid. Departamento de Estadística
dc.date.accessioned 2022-07-22T11:17:49Z
dc.date.available 2022-07-22T11:17:49Z
dc.date.issued 2022-07-22
dc.identifier.issn 2340-5031
dc.identifier.uri http://hdl.handle.net/10016/35529
dc.description.abstract In an economy in which firms exercise market power in the markets for consumption goods and inputs (labor), we show that a merger to monopoly is Pareto improving when the number of firms is below a threshold. This threshold is larger the larger is the elasticity of labor supply and the smaller is the consumers'preference for goods variety. Consequently, market concentration may have non-monotonic general equilibrium effects on wage mark downs, employment and welfare.
dc.description.sponsorship Moreno acknowledges financial support of the MCI (Spain), grant PGC2018-098510-B-I00, and from the Comunidad de Madrid, grant H2019/HUM-5891. Petrakis acknowledges financial support from UC3M-Santander chairs of Excellence.
dc.language.iso eng
dc.relation.ispartofseries Working paper. Economics
dc.relation.ispartofseries 22-08
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other General Equilibrium
dc.subject.other Market Power
dc.subject.other Market Efficiency
dc.subject.other Mergers
dc.title On the General Equilibrium Effects of Market Power
dc.type workingPaper
dc.subject.jel D4
dc.subject.jel D5
dc.subject.jel D6
dc.subject.jel L1
dc.subject.jel L4
dc.subject.eciencia Economía
dc.relation.projectID Gobierno de España. PGC2018-098510-B-I00
dc.relation.projectID Comunidad de Madrid. H2019/HUM-5891
dc.identifier.uxxi DT/0000002016
dc.contributor.funder Ministerio de Economía y Competitividad (España)
dc.affiliation.dpto UC3M. Departamento de Estadística
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