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Heterogeneous firms and trade
This chapter reviews the new approach to international trade based on firm heterogeneity in
differentiated product markets. This approach explains a variety of features exhibited in …
differentiated product markets. This approach explains a variety of features exhibited in …
Firm-level upgrading in develo** countries
In principle, firms in develo** countries benefit from the fact that advanced technologies
and products have already been developed in industrialized countries and can simply be …
and products have already been developed in industrialized countries and can simply be …
Monopsony in the US labor market
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 …
over time. Using administrative data, we estimate plant-level markdowns—the ratio between …
Who set your wage?
I discuss the recent literature that has led to new interest in the idea of monopsonistic wage
setting. Building on advances in search theory and in models of differentiated products …
setting. Building on advances in search theory and in models of differentiated products …
[کتاب][B] The great reversal: How America gave up on free markets
T Philippon - 2019 - degruyter.com
American markets, once a model for the world, are giving up on competition. Thomas
Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by …
Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by …
Labor market power
We develop, estimate, and test a tractable general equilibrium model of oligopsony with
differentiated jobs and concentrated labor markets. We estimate key model parameters by …
differentiated jobs and concentrated labor markets. We estimate key model parameters by …
Perspectives on the labor share
As of 2022, the share of US income accruing to labor is at its lowest level since the Great
Depression. Updating previous studies with more recent observations, I document the …
Depression. Updating previous studies with more recent observations, I document the …
Productivity and misallocation in general equilibrium
This paper develops a general theory of aggregation in inefficient economies. We provide
nonparametric formulas for aggregating microeconomic shocks in economies with …
nonparametric formulas for aggregating microeconomic shocks in economies with …
The rise of market power and the macroeconomic implications
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 …
since 1955. We measure both markups and profitability. In 1980, aggregate markups start to …
Imperfect competition, compensating differentials, and rent sharing in the US labor market
We quantify the importance of imperfect competition in the US labor market by estimating the
size of labor market rents earned by American firms and workers. We construct a matched …
size of labor market rents earned by American firms and workers. We construct a matched …