Over the last two decades the share of national income which accrues to labor has followed a marked downward trend across a host of industrialized countries. This paper reassesses the relative importance of several potential causes of this phenomenon. Overall, the findings suggest that lower...

The stability of the labour share of income is a fundamental feature of macroeconomic models, with broad implications for the shape of the production function, inequality, and macroeconomic dynamics. However, empirically, this share has been slowly declining in many countries for several...

The stability of the labour share of income is a fundamental feature of macroeconomic models, with broad implications for the shape of the production function, inequality, and macroeconomic dynamics. However, empirically, this share has been slowly declining in many countries for several...