منابع مشابه
Explaining Movements in the Labor Share1
In this paper we study the evolution of the labor share in the OECD since 1970. We show it is essentially related to the capital-output ratio; that this relationship is shifted by factors like the price of imported materials or the skill mix; and that discrepancies between the marginal product of labor and the real wage (due to, e.g., product market power, union bargaining, and labor adjustment...
متن کاملLabor Share and Technology Dynamics
In this paper we develop a theory on the joint dynamics of labor share and technology (measured as a Solow residual) at the business cycle frequency. Our main motivating fact is the overshooting property of the labor share: After a positive technology shock, the share of output that corresponds to labor falls temporarily but it quickly rises, at a higher level (in absolute terms) than the initi...
متن کاملThe Declining Labor Share of Income
We use two distinct panel datasets to extract and examine data on the labor share of output. From the first, we examine trends in the economy-wide labor share and from the second, we examine trends in the labor share of the manufacturing sector over the last three decades. Both datasets show that labor shares have decreased, starting from about 1980, in most regions of the world. This finding i...
متن کاملAEA " Concentrating on the Decline in Labor ' s Share
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متن کاملLabor Share in the Change of Japanese Industrial Structure
The investigation by E. Dietzenbacher et al. (2004) has shown the decline of the U.S. labor share for a term of 1982-1997 in spite of the rise of labor productivity. This controversial observation must be inquired to be valid for the other economy or not, and it should be explained for those dynamic causes of change. This research adopted the extended multiplicative structural decomposition ana...
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ژورنال
عنوان ژورنال: Contributions in Macroeconomics
سال: 2003
ISSN: 1534-6005
DOI: 10.2202/1534-6005.1103