Open AccessPosted Content
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
More filters
Journal ArticleDOI
Cartels, competition, and coalitions: the domestic drivers of international orders
TL;DR: Most theoretical and empirical accounts of trade politics focus on political conflict among competing private interest groups and over policies between the dichotomy of trade liberalization and pro-progressive policies as discussed by the authors.
Journal ArticleDOI
The Aggregate and Distributional Effects of Financial Globalization: Evidence from Macro and Sectoral Data
TL;DR: The authors take a fresh look at the aggregate and distributional effects of policies to liberalize international capital flows and find that such policies have led on average to limited output gains while contributing to significant increases in inequality.
Journal ArticleDOI
Kaldor and Piketty’s facts: The rise of monopoly power in the United States
TL;DR: The authors argue that these trends can be explained by an increase in market power and pure profits in the US economy, along with forces that have led to a persistent long-term decline in real interest rates.
Journal ArticleDOI
Employment recovery in the wake of the COVID-19 pandemic
TL;DR: The authors reviewed economic research on recent pandemic-related job losses in the United States in order to understand the prospects for employment recovery and examined telework use, the incidence of job loss, disruptions in labor supply, and progress toward recovery Massive temporary layoffs drove a spike in unemployment and subsequent recalls of unemployed workers drove a rapid but partial recovery.
ReportDOI
Artificial Intelligence, Globalization, and Strategies for Economic Development
Anton Korinek,Joseph E. Stiglitz +1 more
TL;DR: In this paper, the authors analyze the economic forces behind these developments and describe economic policies that would mitigate the adverse effects on developing and emerging economies while leveraging the potential gains from technological advances, and also describe reforms to our global system of economic governance that would share the benefits of AI more widely with developing countries.
References
More filters
Posted Content
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.
Journal ArticleDOI
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.
Journal ArticleDOI
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.
Posted Content
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.
Posted Content
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.