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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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Capital Misallocation and Secular Stagnation
Andrea Caggese,Ander Perez +1 more
TL;DR: In a tangibles-intense economy with highly leveraged firms, low rates enable more borrowing and faster debt repayment, reduce misallocation, and increase aggregate output as mentioned in this paper.
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Финансово-экономические последствия распространения искусственного интеллекта как технологии широкого применения
TL;DR: In this article, the authors employed the methods of an AI qualitative analysis according to the classification of general-purpose technologies and a regression analysis of company production factors, and proposed a model to assess the impact of AI technology on production, organization finances and the economy.
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Innovation in Digital Ecosystems: Challenges and Questions for Competition Policy
Frédéric Marty,Thierry Warin +1 more
TL;DR: In this paper, the authors analyse two possible effects of the development of digital ecosystems on innovation and infer recommendations in terms of competition policy to counteract the detrimental effects that may result from potential unbalanced co-opetitive situations.
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The Tax Advantage of Big Business: How the Structure of Corporate Taxation Fuels Concentration and Inequality
Sandy Brian Hager,Joseph Baines +1 more
TL;DR: In this paper, the first empirical mapping of the effective tax rates of non-financial corporations disaggregated by size and broken down by jurisdiction is presented, revealing a striking tax advantage for big business at home and abroad, and the analysis goes on to show how persistent regressivity in the tax structure is bound up with the increasing relative power of large corporations within the corporate universe, as well as a shift in firm-level power relations.
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Global declining competition
TL;DR: In this article, the authors used a new firm-level dataset on private and listed firms from advanced economies and emerging markets to document four stylized facts on market power in global markets.
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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.