Working Paper: NBER ID: w27985
Authors: Germn Gutirrez; Thomas Philippon
Abstract: We measure the evolution of dominant firms in the U.S. economy since 1960, and globally since 1990. Contrary to common wisdom, dominant firms have not become larger, have not become more productive, and their contribution to aggregate productivity growth has fallen by more than one third since 2000.
Keywords: No keywords provided
JEL Codes: D24; L11; O40
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| global expansion of markets (F69) | domestic market share of leading firms (L10) |
| competitive dynamics within industries (L13) | market value of top firms relative to immediate competitors (L25) |
| dominant firms (L10) | relative productivity (O49) |
| dominant firms (L10) | Hulten growth contribution (O41) |
| top firms (L84) | aggregate labor productivity (O47) |