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What's Been Happening to Aggregate Concentration in the United States? (And Should We Care?),


Lawrence J. White


New York University (NYU) - Leonard N. Stern School of Business; Leonard N. Stern School of Business - Department of Economics

December 2001

NYU Working Paper No. EC-02-03

Abstract:     
In this paper I assemble and array two rarely used data sets to measure the extent ofaggregate concentration the share of national economic activity accounted for by the largest X companies in the U.S. in the 1980s and 1990s. The data show clearly that, despite the substantial merger wave of the 1980s and the far larger wave of the 1990s, aggregate concentration declined inthe 1980s and the early 1990s. Aggregate concentration increased after the mid 1990s, but the levels at the end of the decade were still at or below the levels of the late 1980s or early 1990s. The average size of firm did increase, however, and the relative importance of the larger size classes offirms increased generally. Gini coefficients computed for employment shares and payroll shares of companies showed moderate but steady increases from 1988 through 1998. In the conclusion of the paper I offer some tentative hypotheses for explaining these patterns.

Number of Pages in PDF File: 53

Keywords: aggregate concentration, mergers, size distribution of firms

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Date posted: October 31, 2008  

Suggested Citation

White, Lawrence J., What's Been Happening to Aggregate Concentration in the United States? (And Should We Care?), (December 2001). NYU Working Paper No. EC-02-03. Available at SSRN: http://ssrn.com/abstract=1292649

Contact Information

Lawrence J. White (Contact Author)
New York University (NYU) - Leonard N. Stern School of Business ( email )
44 West 4th Street
New York, NY NY 10012
United States
Leonard N. Stern School of Business - Department of Economics ( email )
269 Mercer Street
New York, NY 10003
United States
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