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Falling growth and rising rents in the United States
[Baisse de la croissance et augmentation du pouvoir de marché aux États-Unis]

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  • Antonin Bergeaud

Abstract

The United States has undergone significant macroeconomic changes over the past 30 years. Economic growth has been on a downward trend (except between 1995-2005), the labour share fell sharply in the late 1990s and sectoral concentration has increased to particularly high levels. These profound changes have been driven by the spread of information and communication technologies that have radically altered the structure of the market. Les États-Unis ont connu d’importants changements macroéconomiques sur les 30 dernières années. La croissance économique a freiné de manière tendancielle (sauf entre 1995-2005), la part du travail a baissé brutalement à la fin des années 1990 et la concentration sectorielle a augmenté pour atteindre des niveaux particulièrement élevés. Ces bouleversements ont été rendus possibles par la diffusion des technologies de l’information et de la communication qui ont profondément changé la structure du marché.

Suggested Citation

  • Antonin Bergeaud, 2020. "Falling growth and rising rents in the United States [Baisse de la croissance et augmentation du pouvoir de marché aux États-Unis]," Eco Notepad (in progress) 153, Banque de France.
  • Handle: RePEc:bfr:econot:153
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