Market power, output, and productivity
利用墨西哥国民账户数据，发现行业层面加价率上升与产出、增加值及劳动生产率增长正相关，且部分可由全要素生产率增长解释，表明市场势力上升可能带来正面福利效应。
I document a positive correlation between increases in markups and growth of output, value added, and labor productivity at the 3-digit sector level using national accounts data from Mexico. Additionally, I show that those results can be partly accounted for by the positive correlation between increases in markups and total factor productivity growth. Taken together, the findings provide new evidence that a rise of market power can be associated with positive welfare effects and not only with negative outcomes of reduced competition.