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Explaining Movements in the Labor Share

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Author Info
Samuel Bentolila (CEMFI)
Gilles Saint-Paul (IDEI, Université des Sciences Sociales de Toulouse)

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Abstract

In this paper we study the evolution of the labor share in the OECD. We show it is essentially related to the capital-output ratio; that this relationship is shifted by factors like the price of imported materials or capital-augmenting technological progress; and that discrepancies between the marginal product of labor and the real wage ---due to, e.g., labor adjustment costs or union wage bargaining--- cause departures from it. We also provide empirical evidence on the determinants of the labor share with panel data on 13 industries and 12 countries for 1972-93.

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Publisher Info
Article provided by Berkeley Electronic Press in its journal Contributions to Macroeconomics.

Volume (Year): 3 (2003)
Issue (Month): 1 ()
Pages: 1103-1103
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Handle: RePEc:bep:maccon:v:3:y:2003:i:1:p:1103-1103

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Related research
Keywords: Labor share capital-output ratio

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Find related papers by JEL classification:
E25 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

References listed on IDEAS
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  15. Caballero, Ricardo J. & Hammour, Mohamad L., 1998. "Jobless growth: appropriability, factor substitution, and unemployment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 48(1), pages 51-94, June. [Downloadable!] (restricted)
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