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Globalization, creative destruction, and labour share change: evidence on the determinants and mechanisms from longitudinal plant-level data

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  • Petri Böckerman
  • Mika Maliranta

Abstract

The labour share of GDP has declined in recent decades in many leading economies. This paper examines the mechanisms of falling labour share using Finnish manufacturing plant-level data over three decades. Using a useful variant of the decomposition method, we make a distinction between the changes in the average plant and the micro-level restructuring. We show that micro-level restructuring is the link between the declining labour share and increasing productivity, and that increased international trade is a factor underlying those shifts. Copyright 2012 Oxford University Press 2011 All rights reserved, Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/oep/gpr031
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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 64 (2012)
Issue (Month): 2 (April)
Pages: 259-280

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Handle: RePEc:oup:oxecpp:v:64:y:2012:i:2:p:259-280

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Cited by:
  1. Bruno Decreuse & Paul Maarek, 2011. "Can the HOS model explain changes in labor shares? A tale of trade and wage rigidities," Working Papers, HAL halshs-00551345, HAL.
  2. Kauhanen, Antti & Maliranta, Mika, 2012. "Micro-components of aggregate wage dynamics," ETLA Working Papers, The Research Institute of the Finnish Economy 1, The Research Institute of the Finnish Economy.

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