NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Diffusion of Wal-Mart and Economies of Density

Thomas J. Holmes

NBER Working Paper No. 13783
Issued in February 2008

---- Acknowledgements -----

The views expressed herein are solely those of the author and do not represent the views of the Federal Reserve Banks of Minneapolis or the Federal Reserve System. I am grateful to for NSF Grant 0551062 for support of this research. I have benefited from the comments of many seminar participants. In particular, I thank Glenn Ellison, Gautam Gowrisankaran and Avi Goldfarb for their comments as discussants and Ariel Pakes for advice on how to think about this problem. I thank Junichi Suzuki, Julia Thornton, David Molitor, and Ernest Berkas for research assistance. I thank Emek Basker for sharing data. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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