Visiting Professor of Economics

• Ph.D. in Economics, Princeton University
• B.A. in Economics, Universidad Torcuato Di Tella

José Azar is an Assistant professor at the University of Navarra and a Research Associate at IESE Business School. José is an economist specializing in antitrust and corporate governance. His work studies the implications for competition of the rise of common ownership of companies by large and diversified asset managers. More recently, he has done research on labor market concentration and power.

He is a Research Affiliate at the CEPR, and a member of Economics for Inclusive Prosperity (EfIP). Before joining the University of Navarra, he worked at IESE Business School and at Charles River Associates in the Antitrust and Competition Practice. He received his BA from Universidad Torcuato Di Tella in Argentina, and his PhD from Princeton University.

Areas of interest

* Industrial Organization
* Antitrust
* Corporate Finance


Journal Articles (refereed)

ALEKSEEVA, L., AZAR, J., GINÉ, M., SAMILA, S., TASKA, B. (2021). The Demand for AI skills in the labor market. LABOUR ECONOMICS, 71, Article 102002. doi:10.1016/j.labeco.2021.102002.
AZAR, J., RAINA, S., SCHMALZ, M. (2021). Ultimate ownership and bank competition. Financial Management. doi:10.1111/fima.12368. (Online first)
VIVES, X., AZAR, J. (2021). General equilibrium oligopoly and ownership structure. Econometrica, 89 (3), 999-1048. doi:10.3982/ECTA17906.
AZAR, J., DURO, M., KADACH, I., ORMAZABAL, G. (2021). The Big three and corporate carbon emissions around the world. Journal of Financial Economics. doi:10.1016/j.jfineco.2021.05.007. (Online first)
AZAR, J., SCHMALZ, M. C., TECU, I. (2021). Research on the competitive consequences of common ownership. A Methodological critique. The Antitrust Bulletin, 66 (1), 113-122. doi:10.1177/0003603X20985799.
AZAR, J., MARINESCU, I., STEINBAUM, M., TASKA, B. (2020). Concentration in US labor markets. Evidence from online vacancy data. LABOUR ECONOMICS, 66, Article 101886. doi:10.1016/j.labeco.2020.101886.
AZAR, J. (2020). The Common ownership trilemma. University of Chicago Law Review, 87 (2), 263 - 295.
AZAR, J., SCHMALZ, M., TECU, I. (2018). Anticompetitive Effects Of Common Ownership. Journal of Finance, 73 (4), 1513 - 1565. doi:10.1111/jofi.12698.
AZAR, J., SCHMALZ, M. C. (2017). Common Ownership of Competitors Raises Antitrust Concerns. Journal of European Competition Law & Practice, 8 (5), 329 - 332. doi:10.1093/jeclap/lpx032.
AZAR, J., KAGY, J.-F., SCHMALZ, M. C. (2016). Can Changes in the Cost of Carry Explain the Dynamics of Corporate "Cash" Holdings? The Review of Financial Studies, 29 (8), 2194 - 2240. doi:10.1093/rfs/hhw021.

Working Papers

ANTÓN, M., AZAR, J., GINÉ, M., XIANRAN LIN, L. (2019). Acquisitions, Common Ownership, and the Cournot Merger Paradox (WP-1219-E).
AZAR, J., VIVES, X. (2018). Oligopoly, Macroeconomic Performance, and Competition Policy (WP-1220-E).
AZAR, J., MARINESCU, I., STEINBAUM, M., TASKA, B. (2018). Concentration in US Labor Markets: Evidence from Online Vacancy Data (WP-1221-E).
AZAR, J., MARINESCU, I., STEINBAUM, M. (2017). Labor Market Concentration (WP-1198-E).
AZAR, J. (2017). Portfolio Diversification, Market Power, and the Theory of the Firm (WP-1170-E). Barcelona: IESE.


AZAR, J., VIVES, X. (2019). Common Ownership and the Secular Stagnation Hypothesis. AEA Papers and Proceedings, Vol. 109 (pp. 322 - 326). American Economic Association.

Articles in other publications

ANTÓN, M., AZAR, J., GINÉ, M., LIN, L. X. (2019). Does Common Ownership Increase Incentives for Mergers and Acquisitions? Competition Policy International, 2 (2).
AZAR, J., SCHMALZ, M. C., TECU, I. (2017). Why Common Ownership Creates Antitrust Risks. Competition Policy International, 1 (3).