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A note on the determinants of labour share movements

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  • Kessing, Sebastian

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

Paper provided by Social Science Research Center Berlin (WZB) in its series Discussion Papers, Research Unit: Market Processes and Governance with number FS IV 02-30.

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Date of creation: 2002
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Handle: RePEc:zbw:wzbmpg:fsiv0230

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Keywords: Labour share; adjustment costs; labour demand;

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  1. Bertola, Giuseppe, 1990. "Job security, employment and wages," European Economic Review, Elsevier, Elsevier, vol. 34(4), pages 851-879, June.
  2. Bentolila, Samuel & Saint-Paul, Gilles, 1998. "Explaining Movements in the Labour Share," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1958, C.E.P.R. Discussion Papers.
  3. Blanchard, Olivier, 1998. "Revisiting European Unemployment : Unemployment, Capital Accumulation and Factor Prices," Research Series, Economic and Social Research Institute (ESRI), Economic and Social Research Institute (ESRI), number GL28.
  4. Oliver J. Blanchard, 1997. "The Medium Run," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(2), pages 89-158.
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Cited by:
  1. repec:pra:mprapa:43050 is not listed on IDEAS
  2. Damiani, Mirella & Pompei, Fabrizio & Ricci, Andrea, 2012. "Labour share and employment protection in European economies," MPRA Paper 43058, University Library of Munich, Germany.
  3. 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, Policy Research Institute, Ministry of Finance Japan, vol. 2(1), pages 77-96, January.
  4. 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, European Central Bank 0772, European Central Bank.
  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. Lo Prete, Anna, 2013. "Sharing Risk Within and Across Countries: The Role of Labor Market Institutions," Department of Economics and Statistics Cognetti de Martiis. Working Papers, University of Turin 201328, University of Turin.
  7. 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.

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