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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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Declining Labor and Capital Shares
TL;DR: In this paper, the authors show that the decline in the labor share over the past 30 years was not offset by an increase in the capital share, and that a decline in competition is necessary to generate simultaneous declines in both labor and capital shares.
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Unions and Inequality over the Twentieth Century: New Evidence from Survey Data
TL;DR: In this paper, the authors developed a new source of micro-data on union membership, opinion polls primarily from Gallup (N â 980,000), to look at the effects of unions on inequality from 1936 to the present.
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German Robots - The Impact of Industrial Robots on Workers
TL;DR: In this article, the authors studied the impact of robot exposure on the careers of individual manufacturing workers and the equilibrium impact across industries and local labor markets in Germany and found no evidence that robots cause total job losses, but they do affect the composition of aggregate employment.
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Labor Market Concentration
TL;DR: The authors used data from the leading employment website CareerBuilder.com to calculate labor market concentration for over 8,000 geographic-occupational labor markets in the US and found that the average market is highly concentrated and that going from the 25th percentile to the 75th percentile in concentration is associated with a 17% decline in posted wages.
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Productivity and Misallocation in General Equilibrium
David Baqaee,Emmanuel Farhi +1 more
TL;DR: In this article, the authors provide a general non-parametric formula for aggregating microeconomic shocks in general equilibrium economies with distortions such as taxes, markups, frictions to resource reallocation, and nominal rigidities, and derive a formula showing how these two components are determined by structural microeconomic parameters such as elasticities of substitution, returns to scale, factor mobility, and network linkages.
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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.