Agglomeration, Misallocation, and (the Lack of) Competition
研究产业集聚政策如何限制竞争，利用中国特殊经济区数据，发现区内企业合谋定价强度是区外近三倍，但整体收入效应为正，因为加价更平等。
Industrial agglomeration policies may limit competition. We develop, validate, and apply a novel approach for measuring competition based on the comovement of markups and market shares among firms in the same location and industry. Then we develop a model of how this reduction in competition affects aggregate income. We apply our approach to the well-known special economic zones (SEZs) of China. We estimate that firms in SEZs exhibit cooperative pricing almost three times as intensively as firms outside SEZs. Nevertheless, we model the aggregate consequences of SEZs and find positive effects because markups become higher but also more equal.