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.
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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.
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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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The Margins of Global Sourcing: Theory and Evidence from U.S. Firms
TL;DR: In this paper, the authors develop a quantifiable multi-country sourcing model in which heterogeneous firms self-select into importing based on their productivity and country-specific variables, and the marginal change in profits from adding a country to the firm's set of potential sourcing locations depends on the number and characteristics of other countries in the set.
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The Elusive Pro-Competitive Effects of Trade
TL;DR: In this article, the authors study the effect of trade liberalization on the distribution of markups and the share of aggregate profits in revenues in a model with monopolistic competition, firm-level heterogeneity, and variable markups.
ReportDOI
The Cyclical Behavior of the Price-Cost Markup
TL;DR: In this article, the authors study the cyclical properties of the markup of price over marginal cost and find that all measures of markups are either procyclical or acyclical.
Posted Content
The Price Ain’t Right? Hospital Prices and Health Spending on the Privately Insured
TL;DR: In this paper, the authors examined the variation in hospital prices within and across geographic areas, examined how hospital prices influenced the variation of health spending on the privately insured, and analyzed the factors associated with hospital price variation.
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