Public enterprise and the rise and fall of labor share
研究了15个发达经济体战后劳动份额先升后降的现象，发现公共企业就业是重要原因，并通过模型说明公共企业冗员会提高劳动份额、降低工资不平等，而改革则会导致劳动份额下降。
Abstract Developed economies experienced a rise and fall in labor share (LS) in the postwar period. We present a novel explanation of these trends – public enterprise employment. We document a link between it and both LS and wage compression in 15 developed nations. We then build a model that shows how overstaffing public enterprises can increase LS and reduce wage inequality. Overstaffing directly increases public enterprise LS and indirectly increases private sector LS by reducing available labor. We examine several public enterprise reforms. Consistent with the model’s predictions, reforms reduce public enterprise LS permanently and private sector LS temporarily.