The declining worker power hypothesis
WebIn Chapter 2, “The Declining Worker Power Hypothesis" (co-written with Lawrence H. Summers), we argue that the decline of workers' power to share in the rents generated by firms over the last forty years in the US has substantial explanatory power for major macroeconomic trends: specifically, the decline in the labor share of income, the rise ... WebMay 26, 2024 · We argue that the declining worker power hypothesis is more compelling as an explanation for observed changes than increases in firms’ market power, both because …
The declining worker power hypothesis
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WebThis paper offers a unified explanation for these phenomena based on reduced worker power. Using individual, industry, and state-level data, we demonstrate that measures of reduced worker power are associated with lower wage levels, higher profit shares, and reductions in measures of the NAIRU. WebSee, e.g., Anna Stansbury & Lawrence H. Summers, The Declining Worker Power Hypothesis: An Explanation for the Recent Evolution of the American Economy, Nat’l Bureau of Econ. Research (May 2024) (decline in workers’ share of economic profits in the United States has been driven by decline in worker power at firms and the increase of firms’
WebThe Declining Worker Power Hypothesis: Common Questions & Some Responses In this post, Larry Summers & I collate questions people have asked about our paper, “ The … WebFeb 17, 2024 · Under imperfect competition in product markets, firms with monopoly power will lower output and employment but, absent any monopsony power, wages remain tied to marginal productivity along an...
WebJun 2, 2024 · The declining worker power hypothesis builds on the work of a generation of labour economists. Industrial organisation economists are, however, typically less … WebAnna's hypothesis is laid out in a fascinating paper which she co-authored with Larry Summers entitled The Declining Worker Power Hypothesis. On this episode, Anna talks with me about her findings as well as other broader macroeconomic trends effecting workers during the pandemic, including how increasing the minimum wage may have unintended ...
WebMar 18, 2024 · A decline in workers’ power, rather than an increase in corporations’ monopoly power, likely explains the co-existence of four significant trends in the U.S. …
WebMay 29, 2024 · Yesterday the following abstract of a new economic paper, “The Declining Worker Power Hypothersis,” from Lawrence Summers and Anna Stansbury came across the transom: ... We argue that the declining worker power hypothesis is more compelling as an explanation for observed changes than increases in firms’ market power, both because it … red feather photography wausau wiWebThe Declining Worker Power Hypothesis: An Explanation for the Recent Evolution of the American Economy Download; XML; Comments and Discussion Download; XML; How Tight Is the US Labor Market? Download; XML; Comments and Discussion Download; XML; When Is Growth at Risk? Download; XML; Comments and Discussion Download; XML; Does the … red feather photography wyomingred feather paper company mankatoWebApr 13, 2024 · This work has several limitations as well: first, due to the number of participants in the study it was not possible to correct for the observed association between the baseline bacterial loads and the PK values. While it does not affect the calculation of decline rates itself, it may be a confounder [56,57]. Second, in the EBA trial during the ... knocking on the heavens doorsWebWe argue that the declining worker power hypothesis is more compelling as an explanation for observed changes than increases in firms’ market power, both because it can … knocking on wood imageWebJan 7, 2024 · In the paper “The Declining Worker Power Hypothesis: An Explanation for the Recent Evolution of the American Economy,” Anna Stansbury and Lawrence Summers claim that the story of declining labor share is less the creation of new monopsony “rents,” as a declining firm-specific labor supply elasticity would suggest has taken place but ... red feather pjsWebWe argue that the declining worker power hypothesis is more compelling as an explanation for observed changes than increases in firms’ market power, both because it can … red feather pen