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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Inequality and Market Concentration, When Shareholding is More Skewed than Consumption
TL;DR: In the United States, the top 20 per cent consumed approximately as much as the bottom 60 per cent, but had 15 times as much corporate equity as the rest of the population.
ReportDOI
The Evolution of Market Power in the US Auto Industry
TL;DR: In this article, the authors construct measures of industry performance and welfare in the U.S. car and light truck market from 1980-2018 and find that consumer welfare increased over time due to improving product quality and falling marginal costs.
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Declining Business Dynamism
Gert Bijnens,Jozef Konings +1 more
TL;DR: Decker et al. as discussed by the authors found that the U.S. decline in dynamism has been accompanied by a decline in high-growth, young firms and attributed this not only to the declining share of young firms that become high growth firms, but also to a declining propensity for small (not necessarily young) firms to experience fast growth.
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Product Quality and Entering Through Tying: Experimental Evidence
Hyunjin Kim,Michael Luca +1 more
TL;DR: A new approach used to gain traction in these adjacent markets has been to pursue a strategy to develop products in adjacent markets to complement their core business.
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The mightier, the stingier: Firms’ market power, capital intensity, and the labor share of income
TL;DR: The authors used longitudinal firm data from a period of substantial labor share variation to understand the firm-level determinants of the labor share of income and found that firms with greater market power and a higher ratio of capital to labor allocate a smaller proportion of their value added to workers.
References
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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.