skip to main content
US FlagAn official website of the United States government
dot gov icon
Official websites use .gov
A .gov website belongs to an official government organization in the United States.
https lock icon
Secure .gov websites use HTTPS
A lock ( lock ) or https:// means you've safely connected to the .gov website. Share sensitive information only on official, secure websites.

Explore Research Products in the PAR
It may take a few hours for recently added research products to appear in PAR search results.


Title: 100 Years of Rising Corporate Concentration
We collect data on the size distribution of US businesses for 100 years, and use these data to estimate the concentration of production (e.g., asset share or sales share of top businesses). The data show that concentration has increased persistently over the past century. Rising concentration was stronger in manufacturing and mining before the 1970s, and stronger in services, retail, and wholesale after the 1970s. The results are robust to different measurement methods and consistent across different historical sources. Our findings suggest that large firms have become more important in the US economy for a long period of time. (JEL D22, E24, L11, L25, N12)  more » « less
Award ID(s):
2144769
PAR ID:
10532534
Author(s) / Creator(s):
; ;
Publisher / Repository:
AER
Date Published:
Journal Name:
American Economic Review
Volume:
114
Issue:
7
ISSN:
0002-8282
Page Range / eLocation ID:
2111 to 2140
Format(s):
Medium: X
Sponsoring Org:
National Science Foundation
More Like this
  1. ; (, American economic journal Macroeconomics)
    Gilchrist, Simon (Ed.)
    We exploit cross-sectional variation in the response of US states to an identified monetary policy shock to study how the impact of monetary policy varies with the age structure of the population. We find that the economy’s response is weaker the greater the share of population under 35 years of age and stronger the greater the share between 40 and 65. We find that all age groups become more responsive to monetary policy shocks when the proportion of the middle-aged increases. We provide evidence consistent with middle-aged entrepreneurs starting and expanding businesses in response to an expansionary monetary shock. (JEL E23, E24, E32, E43, E52, J11, R23) 
    more » « less
  2. ; ; ; ; ; ; ; ; ; (, Business Strategy and the Environment)
    Abstract The recent decline in wild populations of amphibians worldwide coincides with the period of rapid growth in the global trade of wildlife. The potential for pathogen transmission within and beyond the pet amphibian trade network makes it important to explore the attitudes and behavior of businesses involved in the industry. We surveyed US businesses involved in the pet amphibian trade industry to characterize their attitudes and behaviors and identify business characteristics that could influence percieved risk of pathogen transmission in trade. We found that amphibian businesses acquire their animals from a variety of sources (e.g., importers, wholesalers, retailers, breeders, hobbyists, wild), are aware of the threat of emerging pathogens, and are concerned about the potential spillover of pathogens from captive to wild populations. Attitudes and behaviors of businesses toward pathogens varied among business types (e.g., size of business, the share of amphibian sales, mode of business operation). Moreover, businesses expressed a strong interest in acquiring amphibians that are free of pathogens and indicated a willingness to pay a price premium to acquire certified disease‐free animals. Our results indicate that the US pet amphibian trade industry is willing to participate in healthy (clean) trade practices and increasing product prices may be one option to compensate for expenses. A government program to support pathogen‐free certification would likely facilitate implementation. 
    more » « less
  3. ; ; ; ; (, Nature Human Behaviour)
    Abstract Disruptions, such as closures of businesses during pandemics, not only affect businesses and amenities directly but also influence how people move, spreading the impact to other businesses and increasing the overall economic shock. However, it is unclear how much businesses depend on each other during disruptions. Leveraging human mobility data and same-day visits in five US cities, we quantify dependencies between points of interest encompassing businesses, stores and amenities. We find that dependency networks computed from human mobility exhibit significantly higher rates of long-distance connections and biases towards specific pairs of point-of-interest categories. We show that using behaviour-based dependency relationships improves the predictability of business resilience during shocks by around 40% compared with distance-based models, and that neglecting behaviour-based dependencies can lead to underestimation of the spatial cascades of disruptions. Our findings underscore the importance of measuring complex relationships in patterns of human mobility to foster urban economic resilience to shocks. 
    more » « less
  4. ; ; ; ; (, Journal of Public Health)
    Abstract Background The Coronavirus Disease 2019 (COVID-19) pandemic warranted a myriad of government-ordered business closures across the USA in efforts to mitigate the spread of the virus. This study aims to discover the implications of government-enforced health policies of reopening public businesses amidst the pandemic and its effect on county-level infection rates. Methods Eighty-three US counties (n = 83) that reported at least 20 000 cases as of 4 November 2020 were selected for this study. The dates when businesses (restaurants, bars, retail, gyms, salons/barbers and public schools) partially and fully reopened, as well as infection rates on the 1st and 14th days following each businesses’ reopening, were recorded. Regression analysis was conducted to deduce potential associations between the 14-day change in infection rate and mask usage frequency, median household income, population density and social distancing. Results On average, infection rates rose significantly as businesses reopened. The average 14-day change in infection rate was higher for fully reopened businesses (infection rate = +0.100) compared to partially reopened businesses (infection rate = +0.0454). The P-value of the two distributions was 0.001692, indicating statistical significance (P < 0.01). Conclusion This research provides insight into the transmission of COVID-19 and promotes evidence-driven policymaking for disease prevention and community health. 
    more » « less
  5. ; ; ; (, The Quarterly Journal of Economics)
    Abstract The economic analysis of racial discrimination in public accommodations is remarkably limited. To study this issue, we construct a national data set of nondiscriminatory establishments from the Negro Motorist Green Books, a travel guide published from 1936 to 1966 to aid Black Americans in finding nondiscriminatory retail and service establishments. We document patterns in the geographic spread and evolution of Green Book establishments, as well as the correlates of Green Book presence. We find that economic and social measures, as well as state laws relating to racial discrimination and antidiscrimination, were correlated with the provision of nondiscriminatory services. We then use the Green Book data to test whether market conditions and white consumer discrimination led businesses to bar Black customers prior to the Civil Rights Act of 1964. We use plausibly exogenous variation from white World War II casualties and Black migration patterns to isolate the effect of a change in the racial composition of consumers on the growth of nondiscriminatory businesses. We find that the share of nondiscriminatory establishments grew faster in locations with larger increases in the share of the Black population, but the magnitudes were small. These results highlight the importance of federal legislation in ending racial discrimination in public accommodations. 
    more » « less
  • Citation Formats
  • MLA
  • APA
  • Chicago
  • BibTeX
  • Save / Share this Record
  • Send to Email