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Creative destruction in local markets

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Author Info
Jaap H. Abbring
Jeffrey R. Campbell

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Abstract

This article uses a panel of Texas restaurants' and bars' alcohol to measure the pace of creative destruction--the ongoing replacement of unproductive competitors with the new firms--and it investigates whether producers in more concentrated markets might use their market power to stabilize the industry structure. The authors find the opposite to be true: Local markets with more concentrated alcohol sales display more creative destruction.

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Publisher Info
Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.

Volume (Year): (2004)
Issue (Month): Q II ()
Pages: 50-60
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Handle: RePEc:fip:fedhep:y:2004:i:qii:p:50-60:n:v.28no.2

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Related research
Keywords: Competition ; Markets;

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Conley, T. G., 1999. "GMM estimation with cross sectional dependence," Journal of Econometrics, Elsevier, vol. 92(1), pages 1-45, September. [Downloadable!] (restricted)
  2. Sam Peltzman, 1977. "The Gains and Losses From Industrial Concentration," NBER Working Papers 0163, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Smith, Ransford, 2004. "Size matters," World Trade Review, Cambridge University Press, vol. 3(03), pages 441-446, November. [Downloadable!]
  4. Steven J. Davis & John C. Haltiwanger & Scott Schuh, 1998. "Job Creation and Destruction," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540932.
  5. Jaap H. Abbring & Jeffrey R. Campbell, 2003. "A structural empirical model of firm growth, learning, and survival," Working Paper Series WP-03-11, Federal Reserve Bank of Chicago. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Jeffrey R. Campbell, 2005. "Competition in Large Markets," NBER Working Papers 11847, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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This page was last updated on 2009-11-18.

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