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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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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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Aging and pension reform: extending the retirement age and human capital formation
Vogel, Edgar; Ludwig, Alexander; Börsch-Supan, Axel - 2012
based on standard OLG models predict that these changes will increase the capital- labor ratio. Hence, rates of return to … capital decrease and wages increase with adverse welfare consequences for current middle aged asset rich agents. This paper …, endogenous human capital formation and increasing the retirement age. Our quantitative finding is that openness has a relatively …
Persistent link: https://www.econbiz.de/10011605521
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Aging and Pension Reform : Extending the Retirement Age and Human Capital Formation
Vogel, Edgar - 2012
based on standard OLG models predict that these changes will increase the capital-labor ratio. Hence, rates of return to … capital decrease and wages increase with adverse welfare consequences for current middle aged asset rich agents. This paper …, endogenous human capital formation and increasing the retirement age. Our quantitative finding is that openness has a relatively …
Persistent link: https://www.econbiz.de/10013100571
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The Normalized CES Production Function : Theory and Empirics
Klump, Rainer - 2011
The elasticity of substitution between capital and labor and, in turn, the direction of technical change are critical …
Persistent link: https://www.econbiz.de/10013130168
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Shocking Stuff : Technology, Hours, and Factor Substitution
Cantore, Cristiano - 2010
-augmentation nature of the shock, the elasticity of factor substitution, the capital income share, and the reaction of consumption. The …
Persistent link: https://www.econbiz.de/10013135284
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Medium Run Redux : Technical Change, Factor Shares and Frictions in the Euro Area
McAdam, Peter - 2008
shown to account for the observed dynamics of factor incomes shares, capital deepening and the capital-output ratio. Based …
Persistent link: https://www.econbiz.de/10012771612
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On the Optimal Labor Income Share
Growiec, Jakub - 2018
Labor's share of income has attracted interest in recent years reflecting its apparent decline. These falls, witnessed across many countries, are usually deemed undesirable. Any such assertion, however, begs the question of what is the socially optimal labor share. We address this question using...
Persistent link: https://www.econbiz.de/10012921895
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Understanding the Dynamics of Labor Shares and Inflation
Lawless, Martina; Whelan, Karl - 2021
Calvo-style models of nominal rigidities currently provide the dominant paradigm for understanding the linkages between wage and price dynamics. Recent empirical implementations stress the idea that these models link inflation to the behavior of the labor share of income. Galí, Gertler, and...
Persistent link: https://www.econbiz.de/10013316949