2024-03-28T08:37:36Zhttps://repositorio.bde.es/oai/requestoai:repositorio.bde.es:123456789/63702023-12-12T09:04:24Zcom_123456789_5663com_123456789_21col_123456789_5726
Repositorio Institucional
author
Estrada García, Angel
author
Valdeolivas, Eva
2019-08-10T17:08:47Z
2019-08-10T17:08:47Z
2012-11-23
ISSN: 1579-8666 (en línea)
https://repositorio.bde.es/handle/123456789/6370
000345194
DOCA-201209-eng
The labour income share is a key determinant of relevant macroeconomic variables, such as competitiveness, inflation, human capital accumulation, demand and income distribution. Simple economic models predict that the labour income share will fluctuate around a long-run value, thus implying a balanced growth path. However, in the past three decades a downward trend has been observed in various countries, especially in developed ones. To determine the sources of this trend, it is necessary, firstly, to address measurement issues, in particular the behaviour of self-employment, the role played by the non-market economy and the effect of the sectoral reallocation of activity. Then, various theoretical explanations are tested empirically, such as technological factors (capital-skill complementarity), international trade and changes in product and labour market regulations, controlling for the possible effects of the business cycle. This analysis reveals that the technological factors seem to be the most relevant determinants of the trend, and the labour income share is procyclical, but it lags one-year output movements
eng
Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0)
Labour income share
Biased technological change
Skilled labour
International trade
Business cycle
Participación de las rentas del trabajo
Progreso tecnológico sesgado
Empleo cualificado
Comercio internacional
Ciclo de negocios
The fall of the labour income share in advanced economies
Documento de trabajo
URL
https://repositorio.bde.es/bitstream/123456789/6370/1/do1209e.pdf
File
MD5
1a0698f94f870a95a575882a67cf301d
623829
application/pdf
do1209e.pdf
URL
https://repositorio.bde.es/bitstream/123456789/6370/2/do1209e.pdf.txt
File
MD5
f41242b050315c711fb979a1f3649e23
71282
text/plain
do1209e.pdf.txt