This paper asks how rising returns to scale in production contributed to three concurrent U.S. secular trends since 1980: declining business dynamism, rising markups, and growing firm expenditures on …
PublishedQuarterly Journal of EconomicsOnline 10 Aug 2024Published Oct 2024
Grossman, Helpman, and Sabal ask what market failures arise in vertical supply chains with multiple production tiers, limited (non-anonymous) supply networks, arms-length transactions, and recurrent …