Contemporary critiques of GDP’s role in policymaking see it as an ideological abstraction, emblematic of neoliberalism, that misrepresents “real” economic conditions. What...
Princeton Professor Markus Brunnermeier and former IMF chief economist Olivier Blanchard discuss the impact of the current global health crisis on public finances and policy...
ProMarket reviews the most recent and interesting academic papers on the ongoing pandemic: Sergio Correia, Stephan Luck, and Emil Verner studied how US cities and...
ProMarket reviews the most recent and interesting academic papers on the ongoing pandemic: Michael Greenstone and Vishan Nigam of the University of Chicago estimate that...
In order to combat the coronavirus, Congress has passed a $2 trillion stimulus bill that targets individuals, small businesses, and large corporations. From an...
The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.
In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.
In a new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà-Simats study how large institutional investors impact firm innovation. The authors find that large institutional investors encourage internal research and development but discourage firm acquisitions that would add patents and knowledge to their firms’ portfolios, hampering overall innovation.
Joshua Gray and Cristian Santesteban argue that the Federal Trade Commission's focus in Meta-Within and Microsoft-Activision on narrow markets like VR fitness apps and consoles missed the boat on the real competition issue: the threat to future competition in nascent markets like VR platforms and cloud gaming.
Antitrust debates have largely ignored questions about the relationship between market power and productivity, and scholars have provided little guidance on the issue due to data limitations. However, data is plentiful on the hospital industry for both market power and operating costs and productivity, and researchers need to take advantage, writes David Ennis.