A vast literature seeks to measure and explain the apparent decline in the labor share in
national income that has occurred in recent times in the United States and elsewhere. The …

Offshoring has represented a dominant business practice in the past three decades,
prompting considerable research across multiple business domains to understand its …

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 …

We present a framework for understanding the effects of automation and other types of
technological changes on labor demand, and use it to interpret changes in US employment …

This paper evaluates claims about the large macroeconomic implications of new advances
in Artificial intelligence (AI). It starts from a task-based model of AI's effects, working through …

Populism may seem like it has come out of nowhere, but it has been on the rise for a while. I
argue that economic history and economic theory both provide ample grounds for …

We document the evolution of market power based on firm-level data for the US economy
since 1955. We measure both markups and profitability. In 1980, aggregate markups start to …

We document that between 50% and 70% of changes in the US wage structure over the last
four decades are accounted for by relative wage declines of worker groups specialized in …

This paper quantifies employer market power in US manufacturing and how it has changed
over time. Using administrative data, we estimate plant-level markdowns—the ratio between …

For the first time in history, the globe is dominated by one economic system. Capitalism
prevails because it delivers prosperity and meets desires for autonomy. But it also is …