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EU-induced financialisation and its impact on the Greek wage share, 1999-2021
Gouzoulis, Giorgos; Iliopoulos, Panagiotis; Galanis, Giorgos - 2022
This paper examines the determinants of the income share of wage earners in the nonfinancial, private sectors of Greece … since its introduction to the Eurozonein 1999. The main outcome of the integration of Greece into the Eurozone has been the … financialisation of its economy, which has been particularly influential for households since it led to the rapid rise of household …
Persistent link: https://www.econbiz.de/10013470905
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Empirical studies
Giovannoni, Olivier - 2014
In this second part of our study we survey the rapidly expanding empirical literature on the determinants of the functional distribution of income. Three major strands emerge: technological change, international trade, and financialization. All contribute to the fluctuations of the labor share,...
Persistent link: https://www.econbiz.de/10010356672
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Theories
Giovannoni, Olivier - 2014
This series of working papers explores a theme enjoying a tremendous resurgence: the functional distribution of income - the division of aggregate income by factor share. This first installment surveys some landmark theories of income distribution. Some provide a technology-based account of the...
Persistent link: https://www.econbiz.de/10010356673
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What do we know about the labor share and the profit share? Part I: Theories
Giovannoni, Olivier - 2014
This series of working papers explores a theme enjoying a tremendous resurgence: the functional distribution of income - the division of aggregate income by factor share. This first installment surveys some landmark theories of income distribution. Some provide a technology-based account of the...
Persistent link: https://www.econbiz.de/10010513050
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What do we know about the labor share and the profit share? Part II: Empirical studies
Giovannoni, Olivier - 2014
In this second part of our study we survey the rapidly expanding empirical literature on the determinants of the functional distribution of income. Three major strands emerge: technological change, international trade, and financialization. All contribute to the fluctuations of the labor share,...
Persistent link: https://www.econbiz.de/10010513059
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Measures and structural factors
Giovannoni, Olivier - 2014
Economic theory frequently assumes constant factor shares and often treats the topic as secondary. We will show that this is a mistake by deriving the first high-frequency measure of the US labor share for the whole economy. We find that the labor share has held remarkably steady indeed, but...
Persistent link: https://www.econbiz.de/10010358421
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What Do We Know About the Labor Share and the Profit Share? Part III : Measures and Structural Factors
Giovannoni, Olivier G. - 2014
Economic theory frequently assumes constant factor shares and often treats the topic as secondary. We will show that this is a mistake by deriving the first high-frequency measure of the US labor share for the whole economy. We find that the labor share has held remarkably steady indeed, but...
Persistent link: https://www.econbiz.de/10013053124
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What Do We Know About the Labor Share and the Profit Share? Part II : Empirical Studies
Giovannoni, Olivier G. - 2014
In this second part of our study we survey the rapidly expanding empirical literature on the determinants of the functional distribution of income. Three major strands emerge: technological change, international trade, and financialization. All contribute to the fluctuations of the labor share,...
Persistent link: https://www.econbiz.de/10013053661
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What Do We Know About the Labor Share and the Profit Share? Part I : Theories
Giovannoni, Olivier G. - 2014
This series of working papers explores a theme enjoying a tremendous resurgence: the functional distribution of income — the division of aggregate income by factor share. This first installment surveys some landmark theories of income distribution. Some provide a technology-based account of...
Persistent link: https://www.econbiz.de/10013053663
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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 … unidirectional factor driving the labour share down since the eighties, and financialisation equally relevant in the eighties, but … inequality, although financialisation is the most important factor in absolute terms. In the post-Great Recession years of tense …
Persistent link: https://www.econbiz.de/10011756104