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Distribution and growth in an economy with limited needs
Saint-Paul, Gilles - 2001
knowledge sector is bounded, as productivity increases, the economy moves from a Solovian zone where wages increase with … productivity, to a Marxian zone where they paradoxically decline with productivity. This is because as consumption of a given good … more unevenly distributed than productivity, technical progress always increases inequality. Redistribution from profits to …
Persistent link: https://www.econbiz.de/10011398011
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Growing productivity without growing wages : the micro-level anatomy of the aggregate labor share decline
Kehrig, Matthias; Vincent, Nicolas - 2017 - First version: November 2015, this version: March 29, 2017
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...
Persistent link: https://www.econbiz.de/10011646840
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AI, automation and taxation
Bastani, Spencer; Waldenström, Daniel - 2024
capital in advanced economies. It synthesizes empirical evidence on worker displacement, productivity, and income inequality …
Persistent link: https://www.econbiz.de/10014521228
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Inflation and the income share of the rich : evidence for 12 OECD countries
El Herradi, Mehdi; Haan, Jakob de; Leroy, Aurélien - 2020
This paper examines the distributional implications of inflation on top income shares in 12 advanced economies using data over the period 1920-2016. We use Local Projections to analyze how top income shares respond to an inflation shock, and panel regressions in which all variables are defined...
Persistent link: https://www.econbiz.de/10012197609
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Indebted demand
Mian, Atif; Straub, Ludwig; Sufi, Amir - 2020
We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation that borrowers and savers differ in their marginal...
Persistent link: https://www.econbiz.de/10012199991
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Labour market institutions and the personal distribution of income in the OECD
Checchi, Daniele (contributor);  … - 2005
We examine the determinants of differences across countries and over time in the distribution of personal incomes in the OECD. The Gini coefficient of personal incomes can be expressed as a function of the wage differential, the labour share, and the unemployment rate, hence labour market...
Persistent link: https://www.econbiz.de/10003297489
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Explaining the decline in the US labor share : taxation and automation
Heer, Burkhard; Irmen, Andreas; Süssmuth, Bernd - 2022
This study provides evidence for the US that the secular decline in the labor share is not only explained by technical change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth. First, we empirically find indications of...
Persistent link: https://www.econbiz.de/10013206154
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New firms, capital intensity and the labor share : new theoretical and empirical insights
Grazzini, Jakob; Rossi, Lorenza - 2020
This paper considers a two sectors heterogeneous firms model where firms' specific production technology and capital intensity are endogenously determined through business dynamics. It shows that a shock to the relative price of investment goods is followed by the entrance of new firms...
Persistent link: https://www.econbiz.de/10012211092
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Automation, economic growth, and the labor share - a comment on Prettner (2019)
Heer, Burkhard; Irmen, Andreas - 2019 - This Version: June 24, 2019
Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital. Traditional capital and labor are imperfect substitutes...
Persistent link: https://www.econbiz.de/10012031062
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Labor market policies and European crises
Bertola, Giuseppe - 2013
This paper studies theoretically and empirically why and how labor policies may reduce productivity and employment in …
Persistent link: https://www.econbiz.de/10010199422