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Departmental Seminar: Markups, Labor Market Inequality and the Nature of Work

Dates:
  • Thu 13 Feb 2020 11.00 - 12.15
  Add to Calendar 2020-02-13 11:00 2020-02-13 12:15 Europe/Paris Departmental Seminar: Markups, Labor Market Inequality and the Nature of Work

We demonstrate the importance of distinguishing between the traditional uses of labor for production, versus modern uses of labor for overhead, expansion or marketing activities, for studying the distribution of both factor income and labor income. We use our framework to assess the impact of changes in markups arising from various sources on the overall labor share and on labor income inequality across occupations. We identify the overhead and production content of different occupations from the co-movement of occupational income shares with markup-induced changes in the labor share. Our framework can be used to study the distributional effects of demand shocks, monetary policy and secular changes in competition.

Co-author: Piotr Zoch, University of Chicago

Conference Room - Villa La Fonte DD/MM/YYYY
  Conference Room - Villa La Fonte

We demonstrate the importance of distinguishing between the traditional uses of labor for production, versus modern uses of labor for overhead, expansion or marketing activities, for studying the distribution of both factor income and labor income. We use our framework to assess the impact of changes in markups arising from various sources on the overall labor share and on labor income inequality across occupations. We identify the overhead and production content of different occupations from the co-movement of occupational income shares with markup-induced changes in the labor share. Our framework can be used to study the distributional effects of demand shocks, monetary policy and secular changes in competition.

Co-author: Piotr Zoch, University of Chicago


Location:
Conference Room - Villa La Fonte

Affiliation:
Department of Economics

Type:
Seminar series

Organiser:
Prof. Greg Kaplan (University of Chicago)

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