What’s the latest thinking in fiscal and monetary policy? The Hutchins Roundup keeps you informed of the latest research, charts, and speeches. Want to receive the Hutchins Roundup as an email? Sign up here to get it in your inbox every Thursday . Spencer Y. Kwon at Harvard, Yueran Ma at the University of Chicago, and Kaspar Zimmermann at the Leibniz Institute for Financial Research SAFE find evidence that a small number of firms account for an increasingly large share of production assets and output over the past century. For instance, the share of production assets held by the top 0.1% of corporations increased about 40 percentage points between 1930 and 2018, from 47% to 88% . The rise in business concentration was stronger in the manufacturing and mining industries in the pre-1970 period and stronger in the services, retail, and wholesale industries in the post-1970 period. Industries with stronger growth in business concentration have more operating costs that are fixed, higher research and development investment, and higher output growth than other industries, suggesting that the rise in business concentration may be due to productive firms investing in and achieving economies of scale. Francesco Ferrante, Sebastian Graves, and Matteo […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
