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The Fall of the Labor Share and the Rise of Superstar Firms
TLDR
In this paper, the authors analyzed micro panel data from the U.S. Economic Census since 1982 and international sources and document empirical patterns to assess a new interpretation of the fall in the labor share based on the rise of "superstar firms."Citations
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Mergers and market power: Evidence from rivals' responses in European markets
Joel Stiebale,Florian Szücs +1 more
TL;DR: In this paper, the effects of mergers and acquisitions on the markups of non-merging rival firms across a broad set of industries were analyzed, showing that rivals significantly increase their markups after mergers relative to a matched control group.
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Labor Market Concentration, Earnings, and Inequality
TL;DR: In this article, the authors document trends in local industrial concentration from 1976 through 2015 and estimate effects of concentration on earnings outcomes, showing that increased local concentration reduces earnings and increases inequality.
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Digital Resilience: How Work-From-Home Feasibility Affects Firm Performance
TL;DR: In this paper, the authors extract data from over 200 million U.S. job postings to construct an index for firms' resilience to the Covid-19 pandemic by assessing the work-from-home feasibility of their labor demand.
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Skilled Scalable Services: The New Urban Bias in Economic Growth
TL;DR: In this article, the authors show that a group of skill and information-intensive service industries are responsible for all of the new urban bias in recent growth, and propose a simple explanation centered around the interaction of three factors: the disproportionate reliance of these services on information and communication technology (ICT), the precipitous price decline for ICT capital since 1980, and the preexisting comparative advantage of cities in skilled services.
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Cohesion Policy and Inequality Dynamics: Insights from a Heterogeneous Agents Macroeconomic Model
TL;DR: In this paper, the effects of different types of technology-oriented cohesion policies, aiming at the reduction of regional differences, on the convergence of regions and the dynamics of income inequality within regions are analyzed using a two-region agent-based macroeconomic model, where firms in the lagging region receive subsidies for investment in physical capital.
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About Capital in the Twenty-First Century
TL;DR: In this article, the authors present three key facts about income and wealth inequality in the long run emerging from my book, Capital in the Twenty-First Century, and seek to sharpen and refocus the discussion about those trends.
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The China Syndrome: Local Labor Market Effects of Import Competition in the United States
TL;DR: This paper analyzed the effect of Chinese import competition between 1990 and 2007 on US local labor markets, exploiting cross-market variation in import exposure stemming from initial diffe cerence to US labor markets.
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Industry Structure, Market Rivalry, and Public Policy
TL;DR: In this article, the authors take a critical view of contemporary doctrine in this area and present data which suggest that this doctrine offers a dangerous base upon which to build a public policy toward business.
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Market Size, Trade, and Productivity
TL;DR: In this article, the authors develop a monopolistically competitive model of trade with firm heterogeneity in terms of productivity differences and endogenous differences in the "toughness" of competition across markets.
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Computing Inequality: Have Computers Changed the Labor Market?
TL;DR: The authors examined the effect of technological change and other factors on the relative demand for workers with different education levels and on the recent growth of U.S. educational wage differentials and found that the increase in demand shifts for more-skilled workers in the 1970s and 1980s relative to the 1960s is entirely accounted for by an increase in within- industry changes in skill utilization rather than between-industry employment shifts.