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
More filters
Journal ArticleDOI
Automation, partial and full
TL;DR: Theoretical analysis using a two-level nested CES production function specification demonstrates that the shift from partial to full automation generates anon-convexity: humans and machines switch from complementary to substitutable, and the share of output accruing to human workers switches from an upward to a downward trend.
Journal ArticleDOI
Competitive accumulation, the geographical transfer of value, and global environmental change
TL;DR: In this article, the authors make four points about the proposals for legal reform in the context of the International Panel for Social Progress (IPSP 2018) report on markets, finance, and corporations.
ReportDOI
A Portrait of U.S. Factoryless Goods Producers
TL;DR: The authors evaluated the U.S. Census Bureau's most recent data collection efforts to classify business entities that engage in an extreme form of production fragmentation called "factoryless" goods production.
Posted Content
Labour Productivity, Wages and the Functional Distribution of Income in Portugal: A Sectoral Approach
TL;DR: In this article, the authors study the functional distribution of income in Portugal in the long run, considering the period between 1953 and 2017, and find that the labour share in income or value added depends on two fundamental variables, the labour productivity and the average labour compensation.
Posted Content
Wage stagnation and the legacy costs of employment
TL;DR: In this article, the authors reveal that UK real wages have been stagnant for over a decade, and there has been a notable increase in nonwage compensation, but this rise consists largely of special payments to fund deficit gaps in 'defined benefit' pension schemes.
References
More filters
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.