01674cas a2200265 a 4500 AALejournalIMF015905 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513512945 1018-5941 BD-DhAAL BD-DhAAL Gutierrez, German. Entry Costs and the Macroeconomy / German Gutierrez, Callum Jones, Thomas Philippon. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We combine a structural model with cross-sectional micro data to identify the causes and consequences of rising concentration in the US economy. Using asset prices and industry data, we estimate realized and anticipated shocks that drive entry and concentration. We validate our approach by showing that the model-implied entry shocks correlate with independently constructed measures of entry regulations and M and As. We conclude that entry costs have risen in the U.S. over the past 20 years and have depressed capital and consumption by about seven percent. Mode of access: Internet Jones, Callum. Philippon, Thomas. IMF Working Papers; Working Paper ; No. 2019/233 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/233/001.2019.issue-233-en.xml IMF e-Library