| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23396 |
| 来源ID | Working Paper 23396 |
| The Fall of the Labor Share and the Rise of Superstar Firms | |
| David Autor; David Dorn; Lawrence F. Katz; Christina Patterson; John Van Reenen | |
| 发表日期 | 2017-05-15 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | The fall of labor's share of GDP in the United States and many other countries in recent decades is well documented but its causes remain uncertain. Existing empirical assessments of trends in labor's share typically have relied on industry or macro data, obscuring heterogeneity among firms. In this paper, we analyze 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.” If globalization or technological changes advantage the most productive firms in each industry, product market concentration will rise as industries become increasingly dominated by superstar firms with high profits and a low share of labor in firm value-added and sales. As the importance of superstar firms increases, the aggregate labor share will tend to fall. Our hypothesis offers several testable predictions: industry sales will increasingly concentrate in a small number of firms; industries where concentration rises most will have the largest declines in the labor share; the fall in the labor share will be driven largely by between-firm reallocation rather than (primarily) a fall in the unweighted mean labor share within firms; the between-firm reallocation component of the fall in the labor share will be greatest in the sectors with the largest increases in market concentration; and finally, such patterns will be observed not only in U.S. firms, but also internationally. We find support for all of these predictions. |
| 主题 | Microeconomics ; Market Structure and Distribution ; Labor Economics ; Labor Compensation ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w23396 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581070 |
| 推荐引用方式 GB/T 7714 | David Autor,David Dorn,Lawrence F. Katz,et al. The Fall of the Labor Share and the Rise of Superstar Firms. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23396.pdf（1531KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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