| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27193 |
| 来源ID | Working Paper 27193 |
| The Declining Worker Power Hypothesis: An explanation for the recent evolution of the American economy | |
| Anna Stansbury; Lawrence H. Summers | |
| 发表日期 | 2020-05-25 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Rising profitability and market valuations of US businesses, sluggish wage growth and a declining labor share of income, and reduced unemployment and inflation, have defined the macroeconomic environment of the last generation. This paper offers a unified explanation for these phenomena based on reduced worker power. Using individual, industry, and state-level data, we demonstrate that measures of reduced worker power are associated with lower wage levels, higher pr ofit shares, and reductions in measures of the NAIRU. We argue that the declining worker power hypothesis is more compelling as an explanation for observed changes than increases in firms’ market power, both because it can simultaneously explain a falling labor share and a reduced NAIRU, and because it is more directly supported by the data. |
| 主题 | Macroeconomics ; Consumption and Investment ; Labor Economics ; Labor Compensation ; Labor Market Structures ; Labor Relations ; Industrial Organization ; Market Structure and Firm Performance |
| URL | https://www.nber.org/papers/w27193 |
| 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/584866 |
| 推荐引用方式 GB/T 7714 | Anna Stansbury,Lawrence H. Summers. The Declining Worker Power Hypothesis: An explanation for the recent evolution of the American economy. 2020. |
| 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 | ||
| w27193.pdf（6337KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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