No individual actor would have market power in a perfectly competitive market, argue economists Paul Krugman and Robin Wells in the second edition of their book "Economics." Under competitive market ...

Antitrust enforcement in the United States has become a populist rallying cry and a rare example of bipartisan agreement. The Trump administration unsuccessfully sued to block the $85 billion merger ...

Since the 2007–10 financial crisis, many writers have attempted to document and analyze the growing inequality among households in the United States and elsewhere. Thomas Piketty’s Capital in the ...

The need for markets-focused competition watchdogs and consumer-centric privacy regulators to think outside their respective ‘legal silos’ and find creative ways to work together to tackle the ...

The upsurge in inflation has revived old debates about what causes it. Until recently, it has been an article of faith among both businesses and union leaders that inflation is “cost-push”, meaning it ...

In making such decisions, central bankers have to consider how much businesses and consumers will respond. The structure of the financial system and the future expectations of consumers and businesses ...

I think most POWER readers are familiar with financial indexes such as the Dow Jones Industrial Average (DJIA) and the S&P 500. These indices are widely reported on by news outlets and followed by ...

The railroad industry is in crisis. Many people outside and inside the industry are quick to blame its current state on Precision Scheduled Railroading (PSR) and Wall Street. However, several ...

Scharfstein, David S., and Adi Sunderam. "Market Power in Mortgage Lending and the Transmission of Monetary Policy." April 2015. Mimeo.