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Distributional consequences of capital accumulation, globalisation and financialisation in the US
Karanassou, Marika; Sala, Hector - 2012
In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution nexus. We analyse the labour share under the prism of monopoly and frictional growth, and disclose the dramatic upward trend in...
Persistent link: https://www.econbiz.de/10010368155
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The wage-productivity gap revisited: Is the labour share neutral to employment?
Karanassou, Marika; Sala, Hector - 2010
This paper challenges the prevailing view of the neutrality of the labour income share to labour demand, and investigates its impact on the evolution of employment. Whilst maintaining the assumption of a unitary long-run elasticity of wages with respect to productivity, we demonstrate that...
Persistent link: https://www.econbiz.de/10010280741
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Inequality and employment sensitivities to the falling labour share
Karanassou, Marika; Sala, Hector - 2011
This paper aims at identifying the labour share (wage-productivity gap) as a major factor in the evolution of inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate country-specific systems of labour demand and Gini coefficient...
Persistent link: https://www.econbiz.de/10010286279
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Wage shares and demand regimes in Central America: An empirical analysis for Costa Rica, El Salvador, Honduras, Nicaragua, and Panama, 1970-2016
Jiménez, Valeria - 2020
This paper analyzes the relationship between functional income distribution aggregate demand and economic growth in five Central American countries; Costa Rica, El Salvador, Honduras, Nicaragua, and Panama for the period 1970-2016. It estimates the effects of a change in the wage share on...
Persistent link: https://www.econbiz.de/10012406275
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The macroeconomics of automation: Data, theory, and policy analysis
Jaimovich, Nir; Saporta-Eksten, Itay; Siu, Henry E.; … - 2020
The U.S. economy has experienced a significant drop in the fraction of the population employed in middle wage, "routine task-intensive" occupations. Applying machine learning techniques, we identify characteristics of those who used to be employed in such occupations and show they are now less...
Persistent link: https://www.econbiz.de/10012166457
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The shift to remote work lessens wage-growth pressures
Barrero, Jose Maria; Bloom, Nicholas; Davis, Steven J.; … - 2022
The recent shift to remote work raised the amenity value of employment. As compensation adjusts to share the amenity-value gains with employers, wage-growth pressures moderate. We find empirical support for this mechanism in the wage-setting behavior of US employers, and we develop novel survey...
Persistent link: https://www.econbiz.de/10014278413
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Distributional consequences of capital accumulation, globalisation and financialisation in the US
Karanassou, Marika; Sala, Hector - 2017
In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution in the US over the 1968-2014 period. We show that the labour share is affected negatively by personal inequality, capital intensity and...
Persistent link: https://www.econbiz.de/10011928000
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Consistent estimation of the fixed effects ordered logit model
Baetschmann, Gregori; Staub, Kevin E.; Winkelmann, Rainer - 2011
The paper re-examines existing estimators for the panel data fixed effects ordered logit model, proposes a new one, and …
Persistent link: https://www.econbiz.de/10010316860
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Reconsidering the analysis of longitudinal happiness data: With an application to the effect of unemployment
Baetschmann, Gregori; Staub, Kevin E.; Winkelmann, Rainer - 2011
The paper reconsiders existing estimators for the panel data fixed effects ordered logit model, including one that has …
Persistent link: https://www.econbiz.de/10010316884
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Getting PPP right: Identifying mean-reverting real exchange rates in panels
Chortareas, Georgios; Kapetanios, George - 2008
real exchange rates in panel frameworks. One weakness of such tests, however, is that they fail to inform the researcher as … a small number of real exchange rates in a given panel may drive the results. In this paper we examine the PPP … when applied to a set of established panel-unit-root tests, allows the identification of the real exchange rates that are …
Persistent link: https://www.econbiz.de/10010280777