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A note on the determinants of labour share movements

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  • Kessing, Sebastian G.

Abstract

Adjustment costs cause movements of the labour share if the economy experiences demand or wage shocks. With linear adjustment costs and Cobb-Douglas technology, these movements are independent of the size of these shocks and depend only on the size of the adjustment costs. -- Anpassungskosten auf dem Arbeitsmarkt verursachen Schwankungen der Lohnquote, wenn eine Volkswirtschaft Lohn- oder Nachfrageschocks ausgesetzt ist. Für den Fall einer Cobb-Douglas Produktionstechnologie wird gezeigt, dass die induzierten Schwankungen nicht von der Größe der Lohn- oder Nachfrageschocks abhängen, sondern nur von der Höhe der Anpassungskosten.

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Bibliographic Info

Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 81 (2003)
Issue (Month): 1 (October)
Pages: 9-12

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Handle: RePEc:eee:ecolet:v:81:y:2003:i:1:p:9-12

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Web page: http://www.elsevier.com/locate/ecolet

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  1. Bentolila, Samuel & Saint-Paul, Gilles, 1998. "Explaining Movements in the Labour Share," CEPR Discussion Papers 1958, C.E.P.R. Discussion Papers.
  2. Oliver J. Blanchard, 1997. "The Medium Run," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(2), pages 89-158.
  3. Bertola, Giuseppe, 1990. "Job security, employment and wages," European Economic Review, Elsevier, vol. 34(4), pages 851-879, June.
  4. Blanchard, Olivier, 1998. "Revisiting European Unemployment : Unemployment, Capital Accumulation and Factor Prices," Research Series, Economic and Social Research Institute (ESRI), number GL28.
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Cited by:
  1. Shigeru Wakita, 2006. "The Lost Decade in the Japanese Labor Market : Labor's share and Okun's Law," Public Policy Review, Policy Research Institute, Ministry of Finance Japan, vol. 2(1), pages 77-96, January.
  2. Lo Prete, Anna, 2013. "Sharing risk within and across countries: the role of labor market institutions," Economic Systems, Elsevier, vol. 37(3), pages 449-461.
  3. repec:pra:mprapa:43050 is not listed on IDEAS
  4. Damiani, Mirella & Pompei, Fabrizio & Ricci, Andrea, 2012. "Labour share and employment protection in European economies," MPRA Paper 43058, University Library of Munich, Germany.
  5. Andrew Young, 2004. "Labor's Share Fluctuations, Biased Technical Change, and the Business Cycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 7(4), pages 916-931, October.
  6. Shigeru Wakita, 2006. "The Lost Decade in the Japanese Labor Market : Labor’s share and Okun’s Law," Labor Economics Working Papers 22317, East Asian Bureau of Economic Research.
  7. Vermeulen, Philip, 2007. "Can adjustment costs explain the variability and counter-cyclicality of the labour share at the firm and aggregate level?," Working Paper Series 0772, European Central Bank.

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