The aggregate labor share in U.S. manufacturing declined dramatically over the last three decades: Since the mid-1980’s, the compensation for labor declined from 67% to 47% of value added which is unseen in any other sector of the U.S. economy. The labor share of the typical U.S. manufacturing...

The importance of free innovative entry (deregulation) for diversity of structure and competition is studied. I demonstrate quantitatively that even with a narrow definition of entry (firms), and given observed entry behavior, successful entrants completely dominate the long run performance...

Industrial policy is back on the agenda and the consensus is that it must be different "this time" from the past. We redefine industrial policy for industrialised countries as a strategy to promote "high-road competitiveness", understood as the ability of an economy to achieve "Beyond-GDP"...

Recent research highlights the considerable potential of industrial policy to support structural transformation in sub-Saharan Africa. Given the importance of the state in industrial policy, this paper considers the implications for these discussions of recent work on state fragility. It argues...

Die Digitalisierung, die Energiewende und der Aufstieg Chinas zu einem wichtigen Konkurrenten stellen die Wirtschaftspolitik vor große Herausforderungen. Die Politik reagiert darauf mit Überlegungen, europäische Champions zu schaffen oder lenkend in die Wirtschaft einzugreifen. Eine...

Zu dem industriepolitischen Papier des Bundeswirtschaftsministers haben sich Wirtschaftswissenschaftler, aber auch wirtschaftliche Akteure kritisch geäußert. Bereits in der Vergangenheit hat es jedoch in der Bundesrepublik immer wieder fallweise industriepolitische Eingriffe in die Wirtschaft...