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
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DissertationDOI
The Rise of the Corporate Sector as Net Creditor: Financialisation and Functional Income Distribution in the G7 Countries
TL;DR: In this article, the authors investigated the rise of corporate net lending in G7 countries for the period 1990-2015 and found that the process of financialisation and functional income distribution played a significant role in the determination of the level of corpora' net lending.
Journal ArticleDOI
Measuring the Private and Social Returns to R&D: Unintended Spillovers versus Technology Markets
TL;DR: In this paper, a new dataset of interactions in the market for technology between publicly held firms in the U.S. was created, which allows the authors to generalize the canonical model with both spillovers and market-mediated technology transfers.
Posted Content
Market Concentration and the Productivity Slowdown
TL;DR: In this article, the authors propose a rich model of competition and innovation to explain the correlation between rising productivity gaps, concentration, and slowing productivity growth in the U.S. They also provide an explanation for what they call the superstar productivity puzzle.
ReportDOI
Bad Jobs and Low Inflation
Renato Faccini,Leonardo Melosi +1 more
TL;DR: In a dynamic general equilibrium model with a job ladder, inflation rises when most workers are employed in high-productivity jobs because in this case, poaching leads to wage increases that are not backed by changes in productivity as discussed by the authors.
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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.