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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Automation and New Tasks: How Technology Displaces and Reinstates Labor
Daron Acemoglu,Pascual Restrepo +1 more
TL;DR: In this article, the authors present a framework for understanding the effects of automation and other types of technological changes on labor demand, and use it to interpret changes in US employment over the recent past.
Journal ArticleDOI
Concentrating on the Fall of the Labor Share
TL;DR: In this article, the authors discuss an explanation for the fall in share of labour in GDP based on the rise of "superstar firms" and find that sales will increasingly concentrate in a small number of firms and that industries where concentration rises most will have the largest declines in the labour share.
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Declining Competition and Investment in the U.S.
TL;DR: The U.S. business sector has under-invested relative to Tobin's Q since the early 2000's, and as discussed by the authors argue that declining competition is partly responsible for this phenomenon.
ReportDOI
The Missing Profits of Nations
TL;DR: In this paper, the authors estimate that close to 40% of multinational profits are shifted to low-tax countries each year by combining new macroeconomic statistics on the activities of multinational companies with the national accounts of tax havens and the world's other countries.
ReportDOI
Artificial Intelligence and Economic Growth
TL;DR: In this article, the authors examine the potential impact of artificial intelligence (A.I.) on economic growth and the division of income between labor and capital, and the linkages between A.I. and growth are mediated by firm-level considerations, including organization and market structure.
References
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Journal Article
Entry and exit.
TL;DR: 1Burns LR, Housman MG, Robinson CA, and Robinson CA (2009) Market entry and exit by biotech and device companies funded by venture capital.
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Productivity and Prices in Manufacturing During an Era of Rising Concentration
Sam Peltzman,Sam Peltzman +1 more
TL;DR: In this article, the authors provide more systematic evidence on the interplay between concentration, prices and productivity across several hundred US manufacturing industries over two 15-year periods from 1982-2012.
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Globalization, Creative Destruction, and Labor Share Change: Evidence on the Determinants and Mechanism from Longitudinal Plant-level Data
Mika Maliranta,Petri Böckerman +1 more
TL;DR: In this paper, the authors examined the sources and micro-level mechanisms of the changes in the labor share of value added in the Finnish manufacturing industry over a period of three decades and found that increased international trade was a factor underlying those shifts.
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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.