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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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Knowledge spillovers and patent citations: trends in geographic localization, 1976-2015
TL;DR: This article examined the trends in geographic localization of knowledge spillovers via patent citations, extracting multiple cohorts of new sample US patents from the period of 1976-2015 and found that despite ac...
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The Race Between Preferences and Technology
TL;DR: In this paper, the authors argue that a unified analysis of consumption and production is required to understand the long-run behavior of the labor share of income in the United States, and they show that higher-income households spend relatively more on labor-intensive goods and services as a share of their total consumption.
Job Creation in Europe: A firm-level analysis
Hallak Issam,Harasztosi Peter +1 more
TL;DR: In this article, the authors report an innovative state-of-the-art empirical analysis of job creation in the European Union in the same vein as the classical studies in the United States, based on an exceptionally large sample of firm-level employment data in the period 2004-2015 obtained from Orbis, a databank published by Moody's Bureau van Dijk.
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Political Discretion and Antitrust Policy: Evidence from the Assassination of President McKinley
TL;DR: In this paper, the authors study the importance of discretion in antitrust enforcement by analyzing the response of asset prices to the sudden accession of Theodore Roosevelt to the presidency and find that firms with greater vulnerability to antitrust enforcement saw greater declines in their abnormal returns following McKinley's assassination.
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The Politics of Stashing Wealth - The decline of labor power and the global rise in corporate savings
TL;DR: The authors investigated the political roots of the global rise in corporate savings and found that the stronger unions are, the more they pressure firms into using revenues for pay increases and investment, and the more their influence erodes, the stronger the rise of savings.
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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.