The Fall of the Labor Share and the Rise of Superstar Firms*
Abstract
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 typically rely on industry or macro data, obscuring heterogeneity among firms. In this article, we analyze micro panel data from the U.S. Economic Census since 1982 and document empirical patterns to assess a new interpretation of the fall in the labor share based on...
Paper Details
Title
The Fall of the Labor Share and the Rise of Superstar Firms*
Published Date
Feb 3, 2020
Volume
135
Issue
2
Pages
645 - 709
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