Giammario Impullitti
gimpulli.bsky.social
Giammario Impullitti
@gimpulli.bsky.social
Economist. University of Nottingham. International trade, economic growth. Focus: Trade & labour markets, trade & growth, innovation/industrial policY
Reposted by Giammario Impullitti
Reminder call for all PhD students & Postdocs! Join the Nottingham International Trade Summer School from 30 June - 5 July. Explore #trade insights with leading experts, present research, network with peers & attend a leading workshop in the field. For details 👉 www.nottingham.ac.uk/gep/news-eve...
April 30, 2025 at 10:37 AM
Reposted by Giammario Impullitti
We had a fantastic GEP/CEPR PhD Conference with a great keynote speech by @imanelici.bsky.social!

Congratulations to @hubertmassoni.bsky.social and Cristian Espinosa for sharing the Best Paper Award!

The international trade field has a bright future ahead!

www.nottingham.ac.uk/gep/news-eve...
April 25, 2025 at 6:40 PM
Reposted by Giammario Impullitti
Over the past 40 years, the US has seen rising market power, slowing productivity growth, and deepening wealth inequality. @gimpulli.bsky.social (@uniofnottingham.bsky.social) and Pontus Rendahl explore how declining competition may be the common culprit.

Originally featured in VoxEU.
Why Rising Markups Hurt Innovation and Widen Inequality - ProMarket
Over the past four decades, the United States has seen rising market power, slowing productivity growth, and deepening wealth inequality. In new research, Giammario Impullitti and Pontus Rendahl explo...
www.promarket.org
March 19, 2025 at 2:08 PM
How does rising market power affect growth and the distribution of wealth? With
@pontus_rendahl
we explore these links in our new paper, cepr.org/publications..., @cepr.org
#growth, #inequality, #markups. A thread.
DP19911 Market power, growth, and wealth inequality
In recent decades, the United States has experienced a notable rise in markups, a slowdown in productivity growth, and an increase in wealth inequality. We present a framework that unifies these trends into a common driving force. In particular, increased barriers to entry raises markups and boost corporate profits. Rising profits elevates firm valuations, fuels the demand for capital, and drives up asset returns. At the same time, the reduction in competition stifles overall economic growth. Wealth inequality is shaped by the return gap, r-g, which represents the difference between asset returns and the economy’s growth rate. The rise in capital demand together with a reduction in growth leads to a widening of the return gap, which amplifies inequality by affecting the saving patterns of households in different ways across the wealth distribution, deepening the divide between the rich and the poor. These trends result in substantial welfare losses for the majority of households, while only the top 1%, and especially the top 0.1% experience gains.
cepr.org
February 5, 2025 at 12:50 PM