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 …

The study of race and racism in the digital society must produce theoretically distinct and
robust formulations of Internet technologies as key characteristics of the political economy …

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 …

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 …

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 …

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 …

This article assesses several aspects of recent macroeconomic market power research.
These include the ways market power is defined and measured; the use of accounting data …

Researchers' interest in monopsony has increased in recent years. This article reviews the
accumulating evidence that employers have considerable monopsony power. It summarizes …

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 …

Place-based jobs policies seek to create jobs in particular local labor markets. Such policies
include business incentives provided by state and local governments, which cost almost $50 …