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Wage Bargaining and Induced Technical Change in a Linear Economy: Model and Application to the US (1963-2003)
Tavani, Daniele - Volkswirtschaftliche Fakultät, … - 2009
In a simple one-sector, two-class, fixed-proportions economy, wages are set through axiomatic bargaining a la Nash … by economic agents is described by a two-dimensional dynamical system in the employment rate and output/capital ratio … constant rate of employment of labor, and constant input shares. The type of oscillations predicted by the model matches the …
Persistent link: https://www.econbiz.de/10005621994
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Wage bargaining and induced technical change in a linear economy: Model and application to the US (1963–2003)
Tavani, Daniele - In: Structural Change and Economic Dynamics 23 (2012) 2, pp. 117-126
’ bargaining power, has a positive effect on the rate of output growth but a negative effect on employment. … generalized axiomatic bargaining à laNash (1950). As for choice of technology, firms choose the direction of factor …-interested decisions made by economic agents is described by a two-dimensional dynamical system in the employment rate and output …
Persistent link: https://www.econbiz.de/10011048671
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Bargaining over Productivity and Wages when Technical Change is Induced: Implications for Growth, Distribution and Employment
Tavani, Daniele - Department of Economics, New School for Social Research - 2011
gains, savings and investment, is described by a two-dimensional dynamical system in the employment rate and output …, a constant rate of employment of labor, and constant input shares. The type of oscillations predicted by the model is … growth of output per worker but a negative effect on employment. Economic policy can also affect the growth and distribution …
Persistent link: https://www.econbiz.de/10011196534
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Bargaining over productivity and wages when technical change is induced: implications for growth, distribution, and employment
Tavani, Daniele - In: Journal of Economics 109 (2013) 3, pp. 207-244
-dimensional dynamical system in the employment rate and output/capital ratio. The economy converges cyclically to a long-run equilibrium … involving a Harrod-neutral profile of technical change, a constant rate of employment of labor, and constant input shares. The … simulations. Institutional change, as captured by variations in workers’ bargaining power, has a positive effect on the long …
Persistent link: https://www.econbiz.de/10010987673
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Trade Union Objectives and Economic Growth
Irmen, Andreas; Wigger, Berthold - C.E.P.R. Discussion Papers - 2001
cares for wages and employment, we determine a range of trade union objectives and characterize the aggregate technology so …
Persistent link: https://www.econbiz.de/10005123702
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Profit share and returns on capital stock in Italy: the role of privatisations behind the rise of the 1990s
Torrini, Roberto - London School of Economics (LSE) - 2005
Profit share in Italy has been growing between the mid-1970s and the mid-1990s, remaining stable at historically high levels since than. After dropping in the first half of the 1070s, owing to an unprecedented rapid rise in wages, profit share started to recover. The rise during the 1980s...
Persistent link: https://www.econbiz.de/10010745192
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A Theory of Factor Shares
Mangin, Sephorah - Department of Econometrics and Business Statistics, … - 2014
This paper presents a theory of how factor income shares are determined in an environment with labor market frictions and heterogeneous firms. I assume neither a specific aggregate production function nor competitive factor markets. Instead, I first develop microfoundations for an aggregate...
Persistent link: https://www.econbiz.de/10010780718
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On Labour Shares in Recent Decades: A Survey
BOGGIO, Luciano; Vincenzo DALL’AGLIO; MAGNANI, Marco - In: Rivista Internazionale di Scienze Sociali (2010) 3, pp. 283-333
monopolistic competition coupled with bargaining between firms and workers. These empirical studies in general have produced …
Persistent link: https://www.econbiz.de/10010571200
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Factor shares, the price markup, and the elasticity of substitution between capital and labor
Raurich, Xavier; Sala, Hector; Sorolla, Valeri - In: Journal of Macroeconomics 34 (2012) 1, pp. 181-198
In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb–Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the...
Persistent link: https://www.econbiz.de/10010577871
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On Labour Shares in Recent Decades: A Survey
BOGGIO, Luciano; Vincenzo DALL’AGLIO; MAGNANI, Marco - In: Rivista Internazionale di Scienze Sociali 118 (2010) 3, pp. 283-333
monopolistic competition coupled with bargaining between firms and workers. These empirical studies in general have produced …
Persistent link: https://www.econbiz.de/10010786799