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Blanchflower, David G.; Bryson, Alex - National Bureau of Economic Research - 2024

We examine union-non-union differentials in wages and hours in the United States over the last 50 years using data from … the Current Population Survey (CPS). The regression-adjusted difference between union members' and non-members' hourly … earnings has been falling since the Great Recession. The union differential in weekly wages has been more stable. Although it …

Persistent link: https://www.econbiz.de/10014544749

Facts and Fantasies about Wage Setting and Collective Bargaining

Bhuller, Manudeep; Moene, Karl Ove; Mogstad, Magne; … - National Bureau of Economic Research - 2022

In this article, we document and discuss salient features of collective bargaining systems in the OECD countries, with the goal of debunking some misconceptions and myths and revitalizing the general interest in wage setting and collective bargaining. We hope that such an interest may help close...

Persistent link: https://www.econbiz.de/10013388793

Innovation : The Bright Side of Common Ownership?

Antón, Miguel; Ederer, Florian; Giné, Mireia; … - National Bureau of Economic Research - 2024

Firms have inefficiently low incentives to innovate when other firms benefit from their inventions and the innovating firm therefore does not capture the full surplus of its innovations. We show that common ownership of firms mitigates this impediment to corporate innovation. By contrast,...

Persistent link: https://www.econbiz.de/10014512046

Evaluating Pharmaceutical Policy Options

Ho, Katherine; Pakes, Ariel - National Bureau of Economic Research - 2024

Our calculations indicate that currently proposed U.S. policies to reduce pharmaceutical prices, though particularly beneficial for low-income and elderly populations, could dramatically reduce firms' investment in highly welfare-improving R&D. The U.S. subsidizes the worldwide pharmaceutical...

Persistent link: https://www.econbiz.de/10014576635

Trade-ins and Transaction Costs in the Market for Used Business Jets

Hodgson, Charles - National Bureau of Economic Research - 2022

Manufacturers of durable goods can encourage consumers facing transaction costs to upgrade by accepting used units as trade-ins. These "buyback schemes" increase demand for new units, but increase the supply of used units if trade-ins are resold. In this paper, I investigate the equilibrium...

Persistent link: https://www.econbiz.de/10013388853

Research and/or Development? Financial Frictions and Innovation Investment

Mezzanotti, Filippo; Simcoe, Timothy S. - National Bureau of Economic Research - 2023

Abstract U.S. firms have reduced their investment in scientific research ("R") compared to product development ("D"), raising questions about the returns to each type of investment, and about the reasons for this shift. We use Census data that disaggregates "R" from "D" to study how US firms...

Persistent link: https://www.econbiz.de/10014337755

Can Socially-Minded Governance Control the AGI Beast?

Gans, Joshua - National Bureau of Economic Research - 2023

This paper robustly concludes that it cannot. A model is constructed under idealised conditions that presume the risks associated with artificial general intelligence (AGI) are real, that safe AGI products are possible, and that there exist socially-minded funders who are interested in funding...

Persistent link: https://www.econbiz.de/10014437055

Scalable Demand and Markups

Atalay, Enghin; Frost, Erika; Sorensen, Alan T.; … - National Bureau of Economic Research - 2023

We study changes in markups across 72 product markets from 2006 to 2018. A growing literature has documented a rise in markups over time using a production function approach; we instead employ the standard microeconomic method, which is to estimate demand and then invert firms' first-order...

Persistent link: https://www.econbiz.de/10014287331

A Model of Influencer Economy

Cong, Lin William; Li, Siguang - National Bureau of Economic Research - 2023

With the rise of social media and streaming platforms, firms and brand-owners increasingly depend on influencers to attract consumers, who care about both common product quality and consumer-influencer interaction. Sellers thus compete in both influencer and product markets. As outreach and...

Persistent link: https://www.econbiz.de/10014287344

Managing Margins : PE Effects on Financial, Physical, and Human Capital

Richards, Michael R.; Shi, Maggie; Whaley, Christopher M. - National Bureau of Economic Research - 2024

Private equity (PE) plays an increasingly important role in the modern US economy. However, its impacts on owned-firms are incompletely understood. We exploit a historically large leveraged buyout of a national hospital chain to examine how the full life cycle of PE influences hospital-level...

Persistent link: https://www.econbiz.de/10015056166

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