This paper examines the relationship between aggregate demand and the wage share in the US using a vector autoregression methodology. It finds evidence of Goodwin-cycle effects - that is, profit-led demand and a profit-squeeze effect - in baseline estimates using assumptions traditionally used...

The aim of this paper is to quantify the effects of changes in functional income distribution on selected macroeconomic variables in Croatia in period from 2000-2012. We use structural VAR approach with identification scheme based on a priori restrictions that are derived from theoretical...

We reinterpret unit labor costs (ULC) as the product of the labor share in value added, times a price adjustment factor. This allows us to discuss the functional distribution of income. We use data from India’s organized manufacturing sector and show that while India’s ULC displays a clear...

Most analyses explain the increase in China's overall inequality during the reform period principally by means of the expansion of urban-rural income gap. This paper tries to shed light on a more complex relationship that appears to exist between primary distribution of income, top incomes...

This paper proposes a method for estimating the factor shares of labor and capital using cross sectional household survey data containing detailed information on household income by source. It then applies the method to the case of Mexico, a country where factor shares are almost the opposite of...

This paper analyzes the implications of right-to-manage wage bargaining between a producers' syndicate and a workers' union representing finite numbers of identical members in a monetary macroeconomic model of the AS-AD type with government activity. At given prices and price expectations,...

We study how income inequality affects monetary policy through the inequality-household debt channel. We design a minimal macro Agent-Based model that replicates several stylized facts, including two novel ones: falling aggregate saving rate and decreasing bankruptcies during the household's...