Concentrating on the Fall of the Labor Share
研究了多个国家劳动收入占比下降的原因，提出“超级明星企业”模型，认为行业集中度上升导致少数高利润、低劳动份额企业占据更大市场份额，从而拉低整体劳动份额。
The recent fall of labor's share of GDP in numerous countries is well-documented, but its causes are poorly understood. We sketch a “superstar firm” model where industries are increasingly characterized by “winner take most” competition, leading a small number of highly profitable (and low labor share) firms to command growing market share. Building on Autor et al. (2017), we evaluate and confirm two core claims of the superstar firm hypothesis: the concentration of sales among firms within industries has risen across much of the private sector; and industries with larger increases in concentration exhibit a larger decline in labor's share.