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DESCRIPTION:Moynihan Institute of Global Affairs' Trade\, Development and P
 olitical Economy Series presents Mary Amiti. Many studies      have docume
 nted that market concentration has risen among U.S. firms in      recent d
 ecades. In this paper\, we show that this rise in concentration was      a
 ccompanied by tougher product market competition due to the entry of      
 foreign competitors. Using confidential census data covering the universe 
      of all firm sales in the U.S. manufacturing sector\, we find that ris
 ing      import competition increased concentration among U.S. firms by   
    reallocating sales from smaller to larger U.S. firms and by causing fir
 m      exit. However\, this increase in concentration was counteracted by 
 the      expansion of foreign firms\, which reduced domestic firms’ share 
 of the      U.S. market inclusive of foreign firms’ sales. We find that on
 ce the sales      of foreign exporters are taken into account\, U.S. marke
 t concentration in      manufacturing was stable between 1992 and 2012.Mar
 y Amiti is a Vice President at the Federal Reserve Bank of New York. Prior
  to joining the Bank\, she held positions at the International Monetary Fu
 nd\, World Bank\, the University of Melbourne\, and the University of Pomp
 eu Fabra. She graduated with a PhD in Economics from the London School of 
 Economics in 1997\, with a specialization in international trade. She has 
 published in leading journals such as the American Economic Review\, Quart
 erly Journal of Economics\, Review of Economic Studies\, Review of Economi
 cs and Statistics\, and Journal of International Economics. Her research i
 nterests include trade finance\, the effects of trade liberalization on pr
 oductivity\, wages\, the wage skill premium\, and product quality.
DTEND:20220328T211500Z
DTSTAMP:20260516T124352Z
DTSTART:20220328T194500Z
LOCATION:
SEQUENCE:0
SUMMARY:U.S. Market Concentration and Import Competition
UID:RFCALITEM639145178322613460
X-ALT-DESC;FMTTYPE=text/html:<p>Moynihan Institute of Global Affairs' Trade
 \, Development and Political Economy Series presents Mary Amiti. Many stud
 ies      have documented that market concentration has risen among U.S. fi
 rms in      recent decades. In this paper\, we show that this rise in conc
 entration was      accompanied by tougher product market competition due t
 o the entry of      foreign competitors. Using confidential census data co
 vering the universe      of all firm sales in the U.S. manufacturing secto
 r\, we find that rising      import competition increased concentration am
 ong U.S. firms by      reallocating sales from smaller to larger U.S. firm
 s and by causing firm      exit. However\, this increase in concentration 
 was counteracted by the      expansion of foreign firms\, which reduced do
 mestic firms’ share of the      U.S. market inclusive of foreign firms’ sa
 les. We find that once the sales      of foreign exporters are taken into 
 account\, U.S. market concentration in      manufacturing was stable betwe
 en 1992 and 2012.<br></p><p><strong>Mary Amiti </strong>is a Vice Presiden
 t at the Federal Reserve Bank of New York. Prior to joining the Bank\, she
  held positions at the International Monetary Fund\, World Bank\, the Univ
 ersity of Melbourne\, and the University of Pompeu Fabra. She graduated wi
 th a PhD in Economics from the London School of Economics in 1997\, with a
  specialization in international trade. She has published in leading journ
 als such as the American Economic Review\, Quarterly Journal of Economics\
 , Review of Economic Studies\, Review of Economics and Statistics\, and Jo
 urnal of International Economics. Her research interests include trade fin
 ance\, the effects of trade liberalization on productivity\, wages\, the w
 age skill premium\, and product quality.</p>
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