Market Power and Inflation
利用美国11个行业的企业数据，研究通货膨胀对市场势力的影响，发现通胀通常提升市场势力，且这种正向关系在竞争性行业中更显著。
Market power exercised by firms has become central to macroeconomics. Recent theoretical work highlights the importance of the relation between market power and inflation. We examine this relation for individual firms in eleven U.S. industries. Our econometric framework exploits restrictions from dynamic theory and information from financial markets to generate quantitative evidence on the responsiveness of market power to inflation. We find that inflation usually has a positive effect on market power. This relation is heterogeneous across the eleven industries, and statistically significant positive relations are concentrated in industries with little market power. © 2000 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology