The study looked at how monetary policy and market structure have affected the income shares in the U.S. The researchers used a model to show that lower interest rates slowed down the decline in labor share, but also made it worse by increasing the useful life of goods. They found that the negative impact of monetary policy on labor share was over 12 times stronger than the positive impact. Additionally, even if companies tried to have monopoly power, it would be hard to raise prices because consumers are sensitive to price changes.