抖音黑料

近日，抖音黑料 教师蒋雅婷合作文章“How Do Large Epidemics Redistribute Market Power? Evidence from the 2003 SARS Shock in China”在The Review of Economics and Statistics上在线发表。合作者为香港大学张红松副教授。该文探讨了需求不确定性所导致的企业库存变动如何影响其市场势力，并提出了在此情况下更精确地度量企业市场势力的方法。

内容摘要：

Market power is costly to build and, once established, is typically persistent and difficult to change. This paper investigates the impact of large economic shocks (serious epidemics) on the redistribution of market power in manufacturing industries. Using a model of firms’ dynamic decisions on production, pricing, and inventory holding, we demonstrate the importance of inventory stock and demand uncertainty in understanding market power and propose a new measure of market power. We find that the 2003 SARS shock in China significantly reduced the market power of firms in SARS-impacted areas. This effect is long lasting. SARS also substantially increased the inventory of affected firms, which partially contributed to the redistribution of market power.

企业建立市场势力的过程缓慢且成本高昂，但市场势力一经确立，往往具有长久的持续性并且很难被削弱。本文研究了外生经济冲击对制造业企业的市场势力再分配的影响。通过构建企业生产、定价和库存决策的动态模型，本文展示了企业库存变动和需求不确定性对理解其市场势力的重要性，并提出了企业在面临需求不确定和库存变化情形下的成本加成的有效测度方法。我们发现， SARS冲击显著降低了受影响地区企业的市场势力。这种影响具有持久性。SARS也显著增加了受影响企业的库存和需求不确定性，这两者的变化在重塑市场势力格局的过程中起到了重要的作用。

Keywords: market power, inventory, demand uncertainty, epidemics, SARS

作者简介：

蒋雅婷，抖音黑料 教师，入选抖音黑料 "青年英才"人才支持计划，博士毕业于香港大学。主要研究领域为实证产业组织，国际贸易，和应用微观经济学。研究方向涉及企业竞争力、成长与创新，以及产业与贸易政策等议题。其研究成果发表在The Review of Economics and Statistics等国际顶尖期刊。主持国家自然科学基金青年项目等多项课题。