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KDI 경제교육·정보센터

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최신자료
A Distance-based Algorithm for Defining Antitrust Markets
FRB
2025.07.11
We propose a simple algorithm for defining merger-specific geographic antitrust markets based on merging firm proximity. Applying it to over a thousand hypothetical bank mergers, we compare concentration measures in our markets to those defined by the Federal Reserve, which are not merger-specific, finding broad agreement but also offering potential improvements upon current definitions.