Abstract Growth has fallen in the U.S. amid a rise firm concentration. Market share shifted to low labour firms, while within-firm shares have actually risen. We propose theory linking these trends which driving force is falling overhead costs of spanning multiple products or rising efficiency advantage large firms. In response, most efficient firms (with higher markups) spread into new product...

We study the joint evolution of prices and rents residential property. construct indices for both renter-occupied properties owner-occupied properties. then decompose change in price occupant-owned property into three components: (1) changes rent, (2) relative investor- properties, (3) price-rent ratio. use a simple model to link our decomposition different sources variation house prices. argue...

Women have a right to excel in all spheres of activity. However, their roles are mainly confined the resource extraction industry due masculinity bias. African women considered exemplary cases where low access finance and economic opportunities progress natural industry. This study examines role women’s autonomy mineral by controlling ecological footprints, financial development, environmental ...

Using a unique dataset containing gridded data on population densities, rents, housing sizes, and transportation in 192 cities worldwide, we investigate the empirical relevance of monocentric standard urban model (SUM). Overall, SUM seems surprisingly capable capturing inner structure cities, both developed developing countries. As expected, spread out when they are richer, more populated, or f...

This paper analyzes all-pay auctions where the bidders have affiliated values for the object for sale and where the signals take binary values. Since signals are correlated, high signals indicate a high degree of competition in the auction and since even losing bidders must pay their bid, non-monotonic equilibria arise. We show that the game has a unique symmetric equilibrium, and that whenever...

This paper considers the proposal that each country distribute its resource rents directly to citizens as a universal and unconditional cash transfer, or Resource Dividend, and estimates its potential impact on global poverty. Using a global dataset on resource rents and the distribution of income, I find that if every developing country implemented the policy then the number of people living b...

How does technological progress in financial intermediation affect the economy? To address this question a costly-state verification framework is embedded into a standard growth model. In particular, financial intermediaries can invest resources to monitor the returns earned by firms. The inability to monitor perfectly leads to firms earning rents. Undeserving firms are financed, while deservin...