Using detailed data on skill requirements in online vacancies, we estimate the demand for AI specialists across occupations, sectors, and firms. We document a dramatic increase in the demand for AI skills over 2010-2019 in the U.S. economy across most industries and occupations. The demand is...

Labor economics often assumes that wages w are equal to the marginal revenue product of labor MRP L. However, recent literature has shown that firms' market power allows them to pay wages substantially below marginal productivity. The markdown (MRP L - w)/w is our preferred measure of firms'...

In this study, we examine the effects of common ownership on labor market outcomes. We find that an increase in common ownership in a labor market is associated with decreases in both wages per employee and the employment-to-population ratio. We conduct an event study based on the acquisition of...