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CONDI : a cost-of-nominal-distortions index
Eusepi, Stefano (contributor); Hobijn, Bart (contributor);  … - 2009
We construct a price index with weights for the prices of different PCE (personal consumption expenditures) goods chosen to minimize the welfare costs of nominal distortions. In this cost-of-nominal-distortions index (CONDI), the weights are computed in a multi-sector New Keynesian model with...
Persistent link: https://www.econbiz.de/10003812575
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CONDI : a cost-of-nominal-distortions index
Eusepi, Stefano; Hobijn, Bart; Tambalotti, Andrea - 2009
Persistent link: https://www.econbiz.de/10003814160
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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
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/10009422480
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The impact of financialization on income distribution in the USA and Germany : a proposal for a new adjusted wage share
Duenhaupt, Petra - 2011
Over the recent decades, the USA has witnessed major changes in corporate governance partly due to an overall increase … options. On theoretical grounds, this trend was fostered by advances in the economic discipline of agency theory. In practice … Aktienoptionen. Theoretische Grundlage dieses Trends war die Agency Theorie; praktisch haben Änderungen in der Steuergesetzgebung zu …
Persistent link: https://www.econbiz.de/10009530535
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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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Do unions increase labor's shares? : evidence from US industry-level data
Young, Andrew T.; Zuleta, Hernando - 2011
Persistent link: https://www.econbiz.de/10009381008
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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/10009309510
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Distributional consequences of capital accumulation, globalisation and financialisation in the US
Karanassou, Marika; Sala, Hector - 2013
In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution nexus. We analyse the labour share under the prism of monopoly and frictional growth, and disclose the dramatic upward trend in...
Persistent link: https://www.econbiz.de/10009717716
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The decline of the U.S. labor share
Elsby, Michael W. L.; Hobijn, Bart; Sahin, Aysegul - 2013
Persistent link: https://www.econbiz.de/10010191348
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Distributional consequences of capital accumulation, globalisation and financialisation in the US
Karanassou, Marika; Sala, Hector - 2012
In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the functional-personal income distribution nexus. We analyse the labour share under the prism of monopoly and frictional growth, and disclose the dramatic upward trend in...
Persistent link: https://www.econbiz.de/10009562971