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CEP/DOM Capabilities, Competition and Innovation Seminars


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For further information, please contact

Tajender Sagoo, email: t.sagoo@lse.ac.uk, tel: +44(0)20-7955-6648

This seminar is organised by
Yona Rubinstein, email: y.rubinstein@lse.ac.uk, tel: +44(0)20 7106 1262

Rocco Macchiavello, email: r.macchiavello@lse.ac.uk , tel: +44 (0)207 852 3536

calendar
Thursday  07 March 2019  13:45 - 15:00

TBC

Michael Kremer (Harvard)

NAB 5.21, 5th Floor, New Academic Building, LSE, 54 Lincoln's Inn Fields, WC2A 3LJ
calendar
Thursday  07 February 2019  14:00 - 15:15
Note change in Time


Choice and Consequence: Assessing Mismatch at Chicago Exam Schools

Josh Angrist (MIT)

NAB 5.21, 5th Floor, New Academic Building, LSE, 54 Lincoln's Inn Fields, WC2A 3LJ
calendar
Thursday  14 February 2019  13:45 - 15:00

The Fall of the Labor Share and the Rise of Superstar Firms

John Van Reenen (MIT and CEP)

The fall of labor's share of GDP in the United States and many other countries in recent decades is well documented but its causes remain uncertain. Existing empirical assessments of trends in labor's share typically have relied on industry or macro data, obscuring heterogeneity among firms. In this paper, we analyze micro panel data from the U.S. Economic Census since 1982 and international sources and document empirical patterns to assess a new interpretation of the fall in the labor share based on the rise of “superstar firms.” If globalization or technological changes advantage the most productive firms in each industry, product market concentration will rise as industries become increasingly dominated by superstar firms with high profits and a low share of labor in firm value-added and sales. As the importance of superstar firms increases, the aggregate labor share will tend to fall. Our hypothesis offers several testable predictions: industry sales will increasingly concentrate in a small number of firms; industries where concentration rises most will have the largest declines in the labor share; the fall in the labor share will be driven largely by between-firm reallocation rather than (primarily) a fall in the unweighted mean labor share within firms; the between-firm reallocation component of the fall in the labor share will be greatest in the sectors with the largest increases in market concentration; and finally, such patterns will be observed not only in U.S. firms, but also internationally. We find support for all of these predictions.


32L 2.04, 2nd Floor Conference Room, LSE, 32 Lincoln's Inn Fields, London WC2A 3PH


Please note new venue
calendar
Thursday  07 March 2019  13:45 - 15:00

TBC

Michael Kremer (Harvard)

NAB 5.21, 5th Floor, New Academic Building, LSE, 54 Lincoln's Inn Fields, WC2A 3LJ
calendar
Thursday  14 March 2019  13:45 - 15:00

The Impact of CEOs in the Public Sector: evidence from the English NHS

Raffaella Sadun (HBS)

NAB 5.21, 5th Floor, New Academic Building, LSE, 54 Lincoln's Inn Fields, WC2A 3LJ
calendar
Thursday  21 March 2019  13:45 - 15:00

TBC

John Haltiwanger (University of Maryland)

NAB 5.21, 5th Floor, New Academic Building, LSE, 54 Lincoln's Inn Fields, WC2A 3LJ
calendar
Thursday  28 March 2019  13:45 - 15:00

TBC

Luigi Guiso (European University Institute)

NAB 5.21, 5th Floor, New Academic Building, LSE, 54 Lincoln's Inn Fields, WC2A 3LJ