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Factor shares, the price markup, and the elasticity of substitution between capital and labor
Raurich, Xavier; Sala, Hector; Sorolla, Valeri - 2011
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/10010280664
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The US labour share of income : what shocks matter?
Mendieta-Muñoz, Ivan; Rada, Codrina; Santetti, Márcio; … - 2020
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 …; whereas wage bargaining, productivity, and aggregate demand shocks mattered most during the Great Moderation. Second, these …
Persistent link: https://www.econbiz.de/10012150023
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Inequality and employment sensitivities to the falling labour share
Karanassou, Marika; Sala, Hector - 2011
inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate … contributions of the labour share to the trajectories of inequality and employment during specific time intervals in the post-1990 … years. We find that during the nineties the cost of a one percent increase in employment was in the range of 0 …
Persistent link: https://www.econbiz.de/10010286279
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Inequality and employment sensitivities to the falling labour share
Karanassou, Marika; Sala, Hector - 2011
inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate … contributions of the labour share to the trajectories of inequality and employment during specific time intervals in the post-1990 … years. We find that during the nineties the cost of a one percent increase in employment was in the range of 0 …
Persistent link: https://www.econbiz.de/10009157624
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Inequality and employment sensitivities to the falling labour share
Karanassou, Marika; Sala, Hector - 2011
inequality and employment. To this end, we use annual data for the US, UK and Sweden over the past forty years and estimate … contributions of the labour share to the trajectories of inequality and employment during specific time intervals in the post-1990 … years. We find that during the nineties the cost of a one percent increase in employment was in the range of 0 …
Persistent link: https://www.econbiz.de/10009309510
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Distribution, aggregate demand and productivity growth : theory and empirical results for six OECD countries based on a post-Kaleckian model
Hein, Eckhard; Tarassow, Artur - 2008
Empirical research based on the Bhaduri/Marglin-variant of the Kaleckian model has recently shown that aggregate demand in many medium-sized and large open economies tends to be wage-led in the medium to long run, even in a period of increasing globalisation. In this paper we extend this type of...
Persistent link: https://www.econbiz.de/10003772369
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Interest rates, distribution and capital accumulation : a post-Kaleckian perspective on the US and Germany
Hein, Eckhard; Schoder, Christian - 2009
We analyse the effects of interest rate variations on the rates of capacity utilisation, capital accumulation and profit in a simple post-Kaleckian distribution and growth model. This model gives rise to different potential accumulation regimes depending on the values of the parameters in the...
Persistent link: https://www.econbiz.de/10009549819
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Negotiation as a means of developing and implementing environmental policy
Caldart, Charles C.; Ashford, Nicholas Askounes - 1998
In the environmental area, negotiated rulemaking, implementation, and compliance are proposed by their advocates as delivering two primary benefits: reduced rulemaking time and decreased litigation over a final agency rule. The experience to date, however, indicates that negotiated rulemaking...
Persistent link: https://www.econbiz.de/10011608405
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ESOP fables : the impact of employee stock ownership plans on labor disputes
Cramton, Peter C. (contributor); Mehran, Hamid (contributor) - 2008
nonunionized firms. However, little research has been devoted to examining the implications of ESOPs for collective bargaining or … involve a strike. We examine these predictions using U.S. bargaining data from 1970 to 1995. The data suggest that ESOPs do … improved bargaining efficiency, we find that the announcement of a union ESOP leads to a 50 percent larger stock market …
Persistent link: https://www.econbiz.de/10003781773
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Value of work : bargaining, job-satisfaction, and taxation in a simple GE model
FitzRoy, Felix R. (contributor);  … - 2005
-contractible but can be included in extended collective bargaining when workers participate in management, but employment is still … traditional bargaining over wages to extended (but still second-best) bargaining can generate a Pareto welfare improvement. -- job …-satisfaction; bargaining ; unemployment …
Persistent link: https://www.econbiz.de/10003115146