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Concentrating on the Fall of the Labor Share

Autor, David H. - 2017

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...

Persistent link: https://www.econbiz.de/10012964393

The Fall of the Labor Share and the Rise of Superstar Firms

Autor, David H. - 2017

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...

Persistent link: https://www.econbiz.de/10012956386

Compensation and Firm Performance

Ehrenberg, Ronald G.; Milkovich, George T. - 2021

This paper uses stochastic simulation and my U.S. econometric model to examine the optimal choice of monetary policy instruments. Are the variances, covariances, and parameters in the model such as to favor one instrument over the other, in particular the interest rate over the money supply? The...

Persistent link: https://www.econbiz.de/10013228257

Ruling Out Productivity? Labor Contract Pages and Plant Performance

Ichniowski, Casey - 2021

This study documents a strong inverse relationship between number of pages of labor contracts in effect and the productivity observed in a sample of ten unionized plants. It is argued that this relationship reflects the productivity-inhibiting effects of increases in the number and complexity of...

Persistent link: https://www.econbiz.de/10013236729

Production Chains

Levine, David K. - 2010

. The implications of the theory both for measurement and government policy are examined …

Persistent link: https://www.econbiz.de/10013135410

Endogenous Information Flows and the Clustering of Announcements

Acharya, Viral V. - 2010

We consider the strategic timing of information releases in a dynamic disclosure model. Because investors don't know … trigger the immediate release of information by firms. Conversely, good market news slows the release of information by firms … preemptively disclose their own information prior to the arrival of external information. These results have implications for …

Persistent link: https://www.econbiz.de/10013136743

Making the Numbers? "Short Termism" & the Puzzle of Only Occasional Disaster

Repenning, Nelson - 2010

Much recent work in strategy and popular discussion suggests that an excessive focus on "managing the numbers" --delivering quarterly earnings at the expense of longer term investments--makes it difficult for firms to make the investments necessary to build competitive advantage. "Short termism"...

Persistent link: https://www.econbiz.de/10013138087

Industry Dynamics : Foundations for Models with an Infinite Number of Firms

Weintraub, Gabriel - 2010

This paper explores the connection between three important threads of economic research offering different approaches to studying the dynamics of an industry with heterogeneous firms. Finite models of the form pioneered by Ericson and Pakes (1995) capture the dynamics of a finite number of...

Persistent link: https://www.econbiz.de/10013139021

Time-Varying Fund Manager Skill

Kacperczyk, Marcin - 2011

Mutual fund managers can outperform the market by picking stocks or timing the market successfully. Previous work has estimated picking and timing skill, assuming that each manager is endowed with a fixed amount of each and found some evidence of picking skills and little evidence of timing...

Persistent link: https://www.econbiz.de/10013118131

A Unified Theory of Firm Selection and Growth

Arkolakis, Costas - 2011

This paper studies the effects of marketing choice to firm growth. I assume that firm-level growth is the result of idiosyncratic productivity improvements with continuous arrival of new potential producers. A firm enters a market if it is profitable to incur the marginal cost to reach the first...

Persistent link: https://www.econbiz.de/10013119036