We revisit the concept of Diversified Quality Production (DQP), which we introduced about thirty years ago. Our purpose is to examine the extent to which the concept can still be considered tenable for describing and explaining the development of the interaction between the political economy and...

The degree of endemic volatility in the number of firms and establishments varies considerably across industries. Examining the within-industry range of variation (max.-min.) of the number of firms over our sample period, the low and high values across U.S. manufacturing industries are 4 and...

Firm growth is an essential feature of market economies, shaping together macroeconomic performance and the evolution of industry structures. As a potential indicator of organizational "fitness" within a competitive environment, firm growth is also a central concern to both the practice and...

Among the phenomena in economics that are not yet well-understood is the fat-tailed (power-law) distribution of firm sizes in the worldś economies. Different mechanisms suggested in the literature to explain this distribution of firm sizes are discussed in the present paper. The paper uses the...

Market power exercised by firms has become central to macroeconomics. Recent theoretical work highlights the importance of the relation between market power and inflation. We examine this relation for individual firms in eleven U.S industries. Our econometric framework exploits restrictions from...