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Will the true labor share stand up?
Muck, Jakub; McAdam, Peter; Growiec, Jakub - 2015
We document the consequences of ambiguity in the empirical definition of the macroeconomic labor share. Depending on its definition, the properties of short-run fluctuations, medium-run swings, and long-run stochastic trends of the labor share may vary substantially. Based on a range of...
Persistent link: https://www.econbiz.de/10011605851
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Labor share and growth in the long run
Charpe, Matthieu; Bridji, Slim; McAdam, Peter - 2019
This paper establishes some stylized facts of the long run relationship between growth and labor shares using historical data for the United States (1898-2010), the United Kingdom (1856-2010), and France (1896-2010). Performing individual country time-frequency analysis, we demonstrate the...
Persistent link: https://www.econbiz.de/10012142095
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Labor Share and Growth in the Long Run
Charpe, Matthieu - 2019
This paper establishes some stylized facts of the long run relationship between growth and labor shares using historical data for the United States (1898-2010), the United Kingdom (1856-2010), and France (1896-2010). Performing individual country time-frequency analysis, we demonstrate the...
Persistent link: https://www.econbiz.de/10012889951
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Endogenous Labor Share Cycles : Theory and Evidence
Growiec, Jakub - 2015
-founded long-run economic growth model with normalized CES technology and endogenous labor- and capital-augmenting technical change …
Persistent link: https://www.econbiz.de/10013026218
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The effect of durable goods and ICT on euro area productivity growth?
Jalava, Jukka; Kavonius, Ilja Kristian - 2008
purchase of durable goods as investments and thus, the treatment of durables as capital assets conceptually does not differ … and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of … consumer durables impacts both the levels and growth rates of the capital stock, productivity and GDP. Our growth accounting …
Persistent link: https://www.econbiz.de/10011604986
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The Effect of Durable Goods and ICT on Euro Area Productivity Growth?
Jalava, Jukka - 2008
purchase of durable goods as investments and thus, the treatment of durables as capital assets conceptually does not differ … and productivity change; when expenditure on consumer durables is recorded as capital investment. The capitalization of … consumer durables impacts both the levels and growth rates of the capital stock, productivity and GDP. Our growth accounting …
Persistent link: https://www.econbiz.de/10012770430
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Euro area production function and potential output: a supply side system approach
Willman, Alpo - 2002
in the labour income share coupled with the relatively stable capital-to-labour income ratio and a noticeable change in …
Persistent link: https://www.econbiz.de/10011604199
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Factor substitution and factor augmenting technical progress in the US: a normalized supply-side system approach
Klump, Rainer; McAdam, Peter; Willman, Alpo - 2004
aggregate elasticity of substitution but also for the parameters of labor and capital augmenting technical change. We find that … asymmetrical pattern where the growth of laboraugmenting technical progress is exponential, while that of capital is hyperbolic or …
Persistent link: https://www.econbiz.de/10011604413
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Can adjustment costs explain the variability and counter-cyclicality of the labour share at the firm and aggregate level?
Vermeulen, Philip - 2007
This paper shows that adjustment costs modelled as firing costs of moderate size go a long way in explaining the variability and counter-cyclicality of the labour share at the firm and aggregate level. Firing costs cause firms to hire less in recessions and hire less in booms causing wage costs...
Persistent link: https://www.econbiz.de/10011604818
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Medium run redux: technical change, factor shares and frictions in the euro area
McAdam, Peter; Willman, Alpo - 2008
dynamics of factor incomes shares, capital deepening and the capital-output ratio. Based on careful data accounting, we also …
Persistent link: https://www.econbiz.de/10011604961