Recent decades have witnessed the growth of very large firms in many sectors, especially in digital/high tech industries where the ‘Magnificent Seven’ are rarely out of the news. Many nations are currently debating or promulgating new regulations that would have particular impact on these “megafirms.” To promote research on the evolving role of large corporations in economic activity and on implications of the expanding role of these firms for public policy, the NBER will convene a conference on Friday-Saturday, September 13-14, 2024. The meeting will be held in Cambridge, Massachusetts. Presenters should plan to attend in person; there will also be a virtual component that may be accessed on-line. The meeting will be organized by NBER researchers Chad Syverson (University of Chicago) and John Van Reenen (London School of Economics). It is made possible by generous support from the Smith Richardson Foundation.
Research on a wide range of issues, including explanations for the growing importance of megafirms, the conduct of these firms on many dimensions, and possible policy responses to the rise of megafirms, is welcome. To understand the impact of these firms on markets, workers, and consumers, the conference will draw together insights from industrial organization, international economics, labor, macro, productivity, innovation and entrepreneurship, public finance, and other fields.
Particular topics of interest for the conference include, but are not limited to:
- How is the labor market affected by megafirms? Have these firms changed the degree of employer labor market power?
- Has globalization influenced the growth of megafirms? If so, how? Will a slowdown of globalization affect their future evolution?
- How does the growth of megafirms affect the framework for antitrust policy? What role has antitrust policy played in the rise of these firms?
- What is the impact of technology (e.g. network effects, intangible capital, automation) in the growth of megafirms?
- What institutions – regulatory structures, political institutions and others – have influenced the position of megafirms?
- What is the relationship between the growth of megafirms and the slowdown in productivity growth? Has a slowdown in innovation diffusion contributed to a growing leader-laggard gap?
The organizers welcome submissions of both empirical and theoretical research, including papers by scholars who are early in their careers, who are not NBER affiliates, and who are from groups that are under-represented in the economics profession. To be considered for inclusion on the program, upload papers by midnight ET on June 15, 2024.
Please do not submit papers that have been accepted for publication and that will be published by September, 2024. Authors chosen to present papers will be notified by early July.
The NBER will cover the travel costs of two authors per paper, subject to NBER travel reimbursement regulations. All additional authors are welcome to attend the conference at their own expense, and will be invited to participate in the virtual conference. Questions about this conference may be addressed to confer@nber.org.