The Distributional Effect of Market Power and Its Implications for Inclusive Growth in Korea ; KIEP Opinions ; No. 165.

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Autor/Urheber	Minsoo Han
Titel	The Distributional Effect of Market Power and Its Implications for Inclusive Growth in Korea ; KIEP Opinions ; No. 165.
Quelle	Korea Institute for International Economic Policy (2019) PDF als Volltext kostenfreie Datei
Sprache	englisch
Dokumenttyp	online; Monographie
Schlagwörter	Poverty Analysis; Participatory Poverty Assessment; Extreme Poverty; Economic development; Growth And Poverty; Macroeconomic; Macroeconomic Analysis; Macroeconomic Framework; Macroeconomic Models; Macroeconomic Performance; Macroeconomic Planning; Macroeconomic Policies; Macroeconomic Stabilization; Income Distribution; Demographic Indicators; Social Justice; Price stabilization; Food prices; Price policy; Development Indicators; Environmental Indicators; Economic Indicators; Educational Indicators; Health Indicators; Disadvantaged Groups; Socially Disadvantaged Children; Social change; Social accounting; Inequality of income; Economic growth; Open price system; Price fixing; Price regulation; Consumer price indexes; Poor; Economic forecasting; Economic Zones; Health expectancy; Social groups; Political participation; Distribution of income; Developing countries; Mass society; Social policy; Social stability; Population; Sustainable development
Abstract	Identifying the causes of rising income inequality has become one of the biggest socioeconomic topics in many developed and major emerging economies. The most plausible explanations among both policy makers and analysts have to date been dominated by the textbook story of globalization and skill-biased technical change. Until recently, only a few studies have pointed to the role played by market power and corporate rent-seeking in rising income inequality. In the absence of competition and effective regulation, market power leads to an increase in prices relative to marginal costs. These higher prices hurt consumers but benefit business owners, corporate managers, and executives, who are concentrated at the top of income distribution, by disproportionately shifting extra profits towards these top income earners.
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