The DOI matches its Crossref record; 16 of the 18 references it cites were found in a registry or an index.
“Global Market Power”
Open accessAbstract
To date, little is known about the evolution of market power for the economies around the world.We extract data from the financial statements of over 70,000 firms in 134 countries, and we analyze and document the evolution of markups over the last four decades.We show that the average global markup has gone up from close to 1.1 in 1980 to around 1.6 in 2016.Markups have risen most in North America and Europe, and least in emerging economies in Latin America and Asia.We discuss the distributional implications of the rise in global market power for the labor share and for the profit share.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
The source backs part of the claim, not all of it — or backs it for a different population, condition or comparison.
In the citing paper
“The result has been an increase in profits as a share of sales across the economy, as well as a declining share of value added that is allocated to labor (e.g., Akcigit et al. 2021; De Loecker et al. 2020; De Loecker and Eeckhout 2018; Weber and Wasner 2023).”
From Corporate concentration and power matter for agency in food systems (2025) · cites this paper as De Loecker and Eeckhout 2018
Experimental — accuracy not yet measuredThe source backs part of the claim, not all of it — or backs it for a different population, condition or comparison.
In the citing paper
“It is well established in the economics literature that concentrated firms can shape the contours of markets in ways that enable them to earn higher profits than they would in a more competitive market, fueling inequities (De Loecker and Eeckhout 2018; Ennis et al. 2019).”
From Corporate concentration and power matter for agency in food systems (2025) · cites this paper as De Loecker and Eeckhout 2018
Experimental — accuracy not yet measuredThe source backs part of the claim, not all of it — or backs it for a different population, condition or comparison.
In the citing paper
“This pattern appears largely driven by a reallocation of sales and value-added towards firms with high markups (and low labor shares).”
From The Fall of the Labor Share and the Rise of Superstar Firms* (2020) · cites this paper as de Loecker and Eeckhout, 2018
Experimental — accuracy not yet measuredThe cited source says what the claim attributes to it.
In the citing paper
“On average across countries, the weighted average markup has risen.”
From The Fall of the Labor Share and the Rise of Superstar Firms* (2020) · cites this paper as de Loecker and Eeckhout, 2018
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
Automobile Prices in Market Equilibrium
Berry, S., Levinsohn, J., & Pakes, A. (1995) · Econometrica · doi:10.2307/2171802 · Cited by 4,840
“The Global Decline of the Labor Share”
Karabarbounis, L., & Neiman, B. (2014) · The Quarterly Journal of Economics · doi:10.1093/qje/qjt032 · Cited by 2,152
Competition and Innovation: An Inverted U RelationshipPreprint
Aghion, P., Bloom, N., Blundell, R. W., Griffith, R., & Howitt, P. W. (2008) · SSRN Electronic Journal · doi:10.2139/ssrn.1306944 · Cited by 2,119
Measuring Market Power in the Ready-to-Eat Cereal Industry
Nevo, A. (1998) · Econometrica · doi:10.1111/1468-0262.00194 · Cited by 2,025
The Rise of Market Power and the Macroeconomic Implications*
de Loecker, J., Eeckhout, J., & Unger, G. (2020) · Quarterly Journal of Economics · doi:10.3386/w23687 · Cited by 2,002
Markups and Firm-Level Export Status
Loecker, J. D., & Frederic Warzynski, C. (2012) · American Economic Review · doi:10.1257/aer.102.6.2437 · Cited by 1,420
The Granular Origins of Aggregate Fluctuations
Gabaix, X. (2011) · Econometrica · doi:10.3982/ecta8769 · Cited by 1,388
“The Relation between Price and Marginal Cost in U.S. Industry”
Hall, R. E. (1988) · Journal of Political Economy · doi:10.1086/261570 · Cited by 1,207
Competition and Innovation: An Inverted-U Relationship*
Aghion, P., Bloom, N., Blundell, R., Griffith, R., & Howitt, P. (2005) · Quarterly Journal of Economics · doi:10.1162/0033553053970214 · Cited by 995
WTO Accession and Performance of Chinese Manufacturing Firms
Brandt, L., Van Biesebroeck, J., Wang, L., & Zhang, Y. (2017) · American Economic Review · doi:10.1257/aer.20121266 · Cited by 856
Cited by
Sorted by citations
The Fall of the Labor Share and the Rise of Superstar Firms*
Autor, D., Dorn, D., Katz, L. F., Patterson, C., & Van Reenen, J. (2020) · The Quarterly Journal of Economics · doi:10.1093/qje/qjaa004 · Cited by 2,206
The rise of market power and the macroeconomic implications
De Loecker, J., Eeckhout, J., & Unger, G. (2020) · The Quarterly Journal of Economics · doi:10.1093/qje/qjz041 · Cited by 1,893
The Rise of Market Power and the Macroeconomic Implications*
de Loecker, J., Eeckhout, J., & Unger, G. (2020) · Quarterly Journal of Economics · doi:10.3386/w23687 · Cited by 2,002
Ten Facts on Declining Business Dynamism and Lessons from Endogenous Growth Theory
Akcigit, U., & Ates, S. T. (2020) · American Economic Journal Macroeconomics · doi:10.1257/mac.20180449 · Cited by 309
Endogenous Production Networks
Acemoğlu, D., & Azar, P. D. (2020) · Econometrica · doi:10.3982/ecta15899 · Cited by 237
Metadata
- Authors
- De Loecker, J., & Eeckhout, J.
- Venue
- National Bureau of Economic Research
- Publisher
- National Bureau of Economic Research
- Published
- 2018-06
- OpenAlex
- W2810366719
- Cited by
- 308
- References
- 18
- Citations by year
- 2026: 24 · 2025: 49 · 2024: 40 · 2023: 28 · 2022: 30 · 2021: 56 · 2020: 47 · 2019: 24 · 2018: 8
- Type
- report
- Language
- en
- Open access
- green
- doi.org
- Locations
- National Bureau of Economic Research (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- National Bureau of Economic Research (submittedVersion)
- Funders
- Fonds Wetenschappelijk Onderzoek
- FP7 Ideas: European Research Council (339186)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Merger and Competition Analysis
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Global trade and economics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Theory and Policy
- Keywords
- market power, markups, financial statements, firm-level data, labor share, profit share, distributional effects, emerging markets, North America, Europe, Latin America, Asia
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
