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An increase in the wage share has contradictory effects on the subaggregates of aggregate demand. Private consumption expenditures ought to increase because wage incomes typically are associated with higher consumption propensities than capital incomes. Investment expenditures ought to be...
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in aggregate demand, unemployment rate, real wage and labour productivity, which captures key components of the labour … model to identify four structural innovations: aggregate demand, labour supply, wage bargaining, and productivity; (iii … share responded mainly to productivity, aggregate demand, and wage bargaining shocks during the immediate post-war era …
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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 applies a robust empirical methodology, which considers issues relating to cross-country heterogeneity and cross-sectional dependence, to inspect the contributions of gender equality and factor income distribution to an economy's growth path. A dynamic model of aggregate demand is...
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's model for the productivity regime is calibrated on - OECD data. The trajectory for employment predicted by the combination …
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