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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Labor Market Competition and Employment Adjustment Over the Business Cycle
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The Global Rise of Asset Prices and the Decline of the Labor Share
TL;DR: In this paper, the authors argue that the increase in the value of financial assets crowds out capital formation and the negative impact of asset prices on the capital-output ratio declines the labor share if capital and labor are aggregate complements.
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Rent sharing and inclusive growth
TL;DR: The long-run evolution of rent sharing is empirically studied in this paper, based upon a comprehensive and harmonized panel of the top 300 publicly quoted British companies over thirty five years.
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Concentration and Agglomeration of IT Innovation and Entrepreneurship: Evidence from Patenting
Chris Forman,Avi Goldfarb +1 more
TL;DR: In this paper, the authors use data on US patents to document four trends in IT patenting, and identify the reasons behind these trends nor whether they are related to overall changes in industry concentration, agglomeration, or prosperity.
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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.