Recent decades have witnessed the growth of very large firms in many sectors, especially in digital/high tech industries. 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, October 24, 2025. The meeting will be held in Cambridge, Massachusetts; presenters should plan to attend in person. 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.
Potential topics of interest 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 technological factors, such as network effects, intangible capital, and automation, on the growth of megafirms?
- What institutions, including political institutions and regulatory structures, have influenced the position of megafirms?
- Is the growth of megafirms related to the slowdown in productivity growth? Has a slowdown in the diffusion of innovation contributed to a growing leader-laggard gap?
Submissions of both empirical and theoretical research are welcome, 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 11:59pm ET on Thursday, June 26, 2025.
Please do not submit papers that have been accepted for publication and that will be published by October, 2025. Authors chosen to present papers will be notified in mid-July.
The NBER will cover the travel costs of one author per paper, subject to NBER travel reimbursement regulations. All additional authors are welcome to attend the conference at their own expense. Questions about this conference may be addressed to confer@nber.org.