Product Market Concentration Is Decreasing, and It’s Because of the Big Guys

A new study by economists at Princeton University and the Federal Reserve Bank of Richmond finds that while national market concentration is clearly increasing, local concentration is not. In fact, local concentration has been declining rapidly for the last 25 years when measured at the city, county, or ZIP code level.  

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Inequality in the Middle East

Survey estimates suggest that inequality in the Middle East is not particularly high despite considerable political conflict. This column uses new ‘distributional national accounts’ data to show that the Middle East is in fact the most unequal region in the world, with both enormous inequality between countries and large inequality within countries. The results emphasize the need to develop mechanisms of regional redistribution and to increase transparency on income and wealth data.  

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