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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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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.
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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.
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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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Identification Properties of Recent Production Function Estimators
TL;DR: In this article, the authors examine some of the recent literature on the estimation of production functions and suggest an alternative approach that is based on the ideas in these papers, but does not suffer from the functional dependence problems and produces consistent estimates under alternative data generating processes for which the original procedures do not.
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Productivity Dynamics in Manufacturing Plants
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Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets
Olivier Blanchard,Olivier Blanchard,Francesco Giavazzi,Francesco Giavazzi,Francesco Giavazzi +4 more
TL;DR: In this paper, the authors build a model based on two central assumptions: Monopolistic competition in the goods market and bargaining in the labor market, which determines the distribution of rents between workers and firms.
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Output, Input and Productivity Measures at the Industry Level: The EU KLEMS Database*
Mary O'Mahony,Marcel P. Timmer +1 more
TL;DR: In this paper, the authors describe the contents and the construction of the EU KLEMS Growth and Productivity Accounts, which contains industry-level measures of output, inputs and productivity for 25 European countries, Japan and the US for the period from 1970 onwards.
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Cross-Country Differences in Productivity: The Role of Allocation and Selection
TL;DR: In this paper, the effect of idiosyncratic (firm-level vel) policy distortions on aggregate outcomes is investigated, and it is shown that there is substantial and systematic cross-country variation in the within-industry covariance between size and productivity.