Scholarly Edition · May 1, 2021
The labor share in U.S. manufacturing declined from 61% in 1967 to 41% in 2012. The labor share of the typical U.S. manufacturing establishment, in contrast, rose by over 3 percentage points during the same period. Using micro-level data, we document five ...
Full textCite
Journal ArticleJournal of Political Economy · October 1, 2018
Concave hiring rules imply that firms respond more to bad shocks than to good shocks. They provide a unified explanation for several seemingly unrelated facts about employment growth in macro-and microdata. In particular, they generate countercyclical move ...
Full textOpen AccessCite
Journal ArticleJournal of Monetary Economics · August 1, 2018
Aum et al. (2018) quantify the impact of production complementarities and differential productivity growth across occupations and sectors on the slowdown of aggregate productivity growth. This note expands their work to study substitutability between new c ...
Full textOpen AccessCite
Scholarly Edition · January 1, 2017
We find that oil supply shocks decrease average real wages, particularly skilled wages, and increase wage dispersion across regions, particularly unskilled wage dispersion. In a model with spatial energy intensity differences and nontradables, labor demand ...
Full textCite
Scholarly Edition · September 2016
Using a standard production model, we demonstrate theoretically that, even if labor is fully flexible, it generates a form of operating leverage if (a) wages are smoother than productivity and (b) the capital-labor elasticity of substitution is strictly le ...
Link to itemCite
Scholarly Edition · April 2013
Using confidential Census data on U.S. manufacturing plants, we document that most of the dispersion in investment rates across plants occurs within firms instead of across firms. Between- firm dispersion is almost acyclical, but within- firm dispersion is ...
Link to itemCite
Scholarly Edition · 2013
Using micro-level Census data, we document that investment across plants within the same firm is more dispersed than investment across firms. In an expansion, investment patterns across plants within a firm become even more dispersed while between-firm dis ...
Cite
Scholarly Edition · 2011
Using plant-level data, I show that the dispersion of total factor productivity in U.S. durable manufacturing is greater in recessions than in booms. This cyclical property of productivity dispersion is much less pronounced in non-durable manufacturing. In ...
Cite
Scholarly Edition
Using plant-level data, I show that the dispersion of total factor productivity in U.S. durable manufacturing is greater in recessions than in booms. This cyclical property of productivity dispersion is much less pronounced in non-durable manufacturing. In ...
Cite
Scholarly Edition
We separate changes in labor supply and demand through changes in higher-order moments of the wage distribution. We illustrate this idea in a study of the effects of oil price shocks, which generate a predictable labor demand adjustment across regions. Emp ...
Cite
Scholarly Edition
Almost two thirds of the cross-plant dispersion in marginal revenue products of capital occurs
across plants within the same firm rather than between firms. Even though firms allocate investment very differently across their plants, they do not equalize ma ...
Cite
