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Factor shares, the price markup, and the elasticity of substitution between capital and labor
Raurich-Puigdevall, Xavier; Sala, Hector; Sorolla i … - 2011
contrasted patterns in terms of capital deepening. -- elasticity of substitution ; price markup ; factor shares ; capital …
Persistent link: https://www.econbiz.de/10009422480
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Labor income share dynamics with variable elasticity of substitution
Paul, Saumik - 2019
The accumulation principle suggests that complementarity between capital and labor forces the labor income share to … rise in the presence of capital accumulation. The CES model estimates using data from 20 Japanese industries between 1970 … as a non-linear function of the Weibull distribution of capital-labor ratio. Empirical findings support the choice of a …
Persistent link: https://www.econbiz.de/10012022772
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Capital skill substitutability and the labor income share : identification using the Morishima elasticity of substitution
Paul, Saumik - 2018
The relationship between a declining labor income share and a falling relative price of capital requires capital and … distinguish labor by skills and identify differential capital-labor substitutability across skill groups. Using the Morishima … substitution parameters between capital and skilled labor (ρ) and between capital and unskilled labor (σ). We then derive the …
Persistent link: https://www.econbiz.de/10011843932
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Functional Income Distribution and Aggregate Demand in the Euro Area
Stockhammer, Engelbert; Onaran, Özlem; Ederer, Stefan - 2010
expenditures ought to increase because wage incomes typically are associated with higher consumption propensities than capital …
Persistent link: https://www.econbiz.de/10014211364
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Capital-Task Complementarity and the Decline of the U.S. Labor Share of Income
Orak, Musa - 2017
unitary elasticity between equipment capital and non-routine tasks, equipment capital and routine tasks are highly … document that the fall in relative price of equipment capital alone can explain 72 percent of the observed decline in the U … sensitivities of cost of production to the price of equipment capital …
Persistent link: https://www.econbiz.de/10014122283
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Bargaining, openness and the labor share
Schneider, Dorothee - 2011
This paper investigates determinants of changes of the labor share in developed countries with a focus on Western Europe. Using a country-industry panel that covers the private sector, the paper focuses on long and short-run changes within industries. The results show a large and time-persistent...
Persistent link: https://www.econbiz.de/10010281547
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Demographic change and the labour share of income
Schmidt, Torsten; Vosen, Simeon - 2010
Despite similar levels of per capita income, education, and technology the development of labour shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. Employing an overlapping generations model we first examine the...
Persistent link: https://www.econbiz.de/10003929142
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The labour share of income : heterogeneous causes for parallel movements?
Hogrefe, Jan; Kappler, Marcus - 2010
most prominent explanatory variables in the literature: the capital-output ratio, total factor productivity and trade …
Persistent link: https://www.econbiz.de/10003961521
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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/10009157624
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What determines the share of labour in national income? : a cross-country analysis
Guerriero, Marta; Sen, Kunal - 2012
Recent evidence on functional income distribution suggests that the shares of capital and labour in national income …
Persistent link: https://www.econbiz.de/10009548636