expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …

expensive and innovation investments that increase labor productivity are more profitable. We incorporate this channel in a new …

increasing globalisation. In this paper we extend this type of analysis and integrate the effects on productivity growth …, theoretically and empirically. Productivity growth is introduced into the theoretical model making use of the Verdoorn effect or of … productivity growth. Further on, a costpush or Marx/Hicks-effect and hence a positive impact of real wage growth or the wage share …