An OLG Model of Common Ownership: Effects on Consumption and Investments

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We analyze how an increase in the degree of common ownership of firms in the same market affects consumption and investment. Such an increase is shown to reduce real investment and therefore intertemporal consumption. Overall, institutional investors’ common ownership of firms competing in the same market serves as a device for weakening market competition. The resulting increase in the price of acquiring shares with institutional investors then crowds out savings directed to real investments.
Referentgranskad vetenskaplig tidskriftJournal of Macroeconomics
StatusPublicerad - 23.08.2019
MoE-publikationstypA1 Originalartikel i en vetenskaplig tidskrift


  • 511 Nationalekonomi

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