%0 Journal Article 
%A López, Rigoberto A.
%A López Díaz-Delgado, Elena
%A Liron-Espana, Carmen
%T When is concentration beneficial? Evidence from U.S. manufacturing
%D 2009
%U http://hdl.handle.net/10017/2405
%X This article estimates the impact of industrial concentration on market power and cost and then links the ensuing welfare changes to market structure characteristics using a sample of 232 U.S. manufacturing industries. Empirical results indicate that further increases in concentration would enhance welfare in 70% of the industries due to widespread efficiency gains, although these would generally not be passed on to consumers. From a social standpoint, further concentration is more likely to be beneficial in industries with economies of size, high export intensity, which are engaged in consumer-oriented goods, face larger markets, and have low or moderate levels of initial concentration.
%K Concentration
%K Welfare
%K Economies of size
%K Market power
%K Manufacturing
%K L11
%K L60
%K D43
%K D61
%K F12
%K Ciencias económicas
%K Estadística
%K Economics
%K Statistics
%~ Biblioteca Universidad de Alcala