Not a Typical Firm: The Joint Dynamics of Firms, Labor Shares, and Capital–Labor Substitution
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While the US labor share has declined, especially in manufacturing and retail, the labor share of a typical firm in these sectors has risen. This paper introduces a model where firms incur fixed costs to automate tasks. In response to lower capital prices, the model reproduces the labor share
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美国国家经济研究局创建时间：
2021-03-01
