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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...
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This paper uses the concept of ‘growth regimes’ to revisit the study of the determinants of the declining labour share in advanced economies. We examine a panel of OECD countries with aggregate and industry level data and explore the effects of technological progress on the labour income...
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issues connected with growth theory considered from different theoretical perspectives. Its uniqueness is derived from the … classical tradition, modern theory, and heterodox models; problems of policy; dynamics and business cycles; and the role of … scholars of the theory of economic growth, the theory of distribution, macroeconomics, classical and Keynesian economics, as …
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This paper examines the effect of wealth concentration on firms' market power when firm entry is driven by entrepreneurs facing uninsurable idiosyncratic risks. Under greater wealth concentration, households in the lower end of the wealth distribution are more risk averse and less willing (or...
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