CEP | People | Bernardo Mottironi

Biography

Dr Mottironi is an economist at the Bank of Italy. His research combines macroeconomic models with microdata to study the behaviour of heterogeneous firms, with a focus on productivity and market power. He obtained his PhD at the London School of Economics (LSE) in 2026.

Publications

Journal article

Do larger firms exert more market power? Markups and markdowns along the size distribution

Combining financial statements with firm-level product prices, we find that larger firms exhibit lower markups, although they are overcompensated by substantially higher wage markdowns. We explain our divergence from pri... Read more...

Matthias Mertens and Bernardo Mottironi

10 July 2025

CEP discussion papers

Do larger firms exert more market power? Markups and markdowns along the size distribution

Several models posit a positive cross-sectional correlation between markups and firm size, which characterizes misallocation, factor shares, and gains from trade. Accounting for labor market power in markup estimation, w... Read more...

Matthias Mertens and Bernardo Mottironi

21 September 2023