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Concentrating on the Fall of the Labor Share

The American economic review, 2017-05, Vol.107 (5), p.180-185 [Peer Reviewed Journal]

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Title:
Concentrating on the Fall of the Labor Share
Author: Autor, David ; Dorn, David ; Katz, Lawrence F. ; Patterson, Christina ; Van Reenen, John
Subjects: Competition ; Economic models ; Economic sectors ; Employment ; GDP ; Gross Domestic Product ; Imports ; Industrial concentration ; Industrial productivity ; Industrial sectors ; Industry ; Industry analysis ; Market share ; Market shares ; NEW TECHNOLOGIES AND THE LABOR MARKET ; Private sector ; Product lines ; Sales
Is Part Of: The American economic review, 2017-05, Vol.107 (5), p.180-185
Description: The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a “superstar firm” model where industries are increasingly characterized by “winner take most” competition, leading a small number of highly profitable (and low labor share) firms to command growing market share. Building on Autor et al. (2017), we evaluate and confirm two core claims of the superstar firm hypothesis: the concentration of sales among firms within industries has risen across much of the private sector; and industries with larger increases in concentration exhibit a larger decline in labor's share.
Publisher: Nashville: American Economic Association
Language: English
Identifier: ISSN: 0002-8282
EISSN: 1944-7981
DOI: 10.1257/aer.p20171102
Source: ProQuest Central

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