IDEAS home Printed from https://ideas.repec.org/a/cai/ecoldc/ecop_158_0001.html
   My bibliography  Save this article

Les déterminants du taux de marge en France et quelques autres grands pays industrialisés : analyse empirique sur la période. 1970-2000

Author

Listed:
  • Mustapha Baghli
  • Gilbert Cette
  • Arnaud Sylvain

Abstract

This study explores the factors driving the observed movements in the profit ratio in several industrialised countries. It suggests the following conclusions: - in France, the profit ratio returned in the nineties to the level recorded in the beginning of the seventies (after stripping out the impact of self-employment); - in France, Germany and Japan, the profit ratio seems driven in the medium to long term by the real interest rate, the relative price of energy and the capacity utilisation rate; - in France, the change in the unemployment rate affects the profit ratio in the short term. This may confirm the impact on bargaining power of the disequilibrium in the labour market.

Suggested Citation

  • Mustapha Baghli & Gilbert Cette & Arnaud Sylvain, 2003. "Les déterminants du taux de marge en France et quelques autres grands pays industrialisés : analyse empirique sur la période. 1970-2000," Economie & Prévision, La Documentation Française, vol. 158(2), pages 1-25.
    • Handle: RePEc:cai:ecoldc:ecop_158_0001
    as

    Download full text from publisher

    File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=ECOP_158_0001
    Download Restriction: free
    File URL: http://www.cairn.info/revue-economie-et-prevision-1-2003-2-page-1.htm
    Download Restriction: free
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Bentolila Samuel & Saint-Paul Gilles, 2003. "Explaining Movements in the Labor Share," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-33, October.
    2. Robert J. Gordon, 1997. "The Time-Varying NAIRU and Its Implications for Economic Policy," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 11-32, Winter.
    3. Blanchard, Olivier Jean & Kiyotaki, Nobuhiro, 1987. "Monopolistic Competition and the Effects of Aggregate Demand," American Economic Review, American Economic Association, vol. 77(4), pages 647-666, September.
    4. Stock, James H & Watson, Mark W, 1993. "A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems," Econometrica, Econometric Society, vol. 61(4), pages 783-820, July.
    5. Mihoubi, F., 1999. "Le partage de la valeur ajoutee en France et en Allemagne," Working papers 64, Banque de France.
    6. Shin, Yongcheol, 1994. "A Residual-Based Test of the Null of Cointegration Against the Alternative of No Cointegration," Econometric Theory, Cambridge University Press, vol. 10(1), pages 91-115, March.
    7. Gilbert Cette & Selma Mahfouz, 1996. "Le partage primaire du revenu : un constat descriptif sur longue période," Économie et Statistique, Programme National Persée, vol. 296(1), pages 165-189.
    8. Engle, Robert F. & Yoo, Byung Sam, 1987. "Forecasting and testing in co-integrated systems," Journal of Econometrics, Elsevier, vol. 35(1), pages 143-159, May.
    9. Arnaud Sylvain, 2001. "Rentabilité et profitabilité du capital : le cas de six pays industrialisés," Économie et Statistique, Programme National Persée, vol. 341(1), pages 129-152.
    10. Céline Prigent, 1999. "La part des salaires dans la valeur ajoutée en France : une approche macroéconomique," Économie et Statistique, Programme National Persée, vol. 323(1), pages 73-94.
    11. Jean-Philippe Cotis & Elisabeth Rignols, 1998. "Le partage de la valeur ajoutée : quelques enseignements tirés du « paradoxe franco-américain »," Revue de l'OFCE, Programme National Persée, vol. 65(1), pages 291-344.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Gilbert Cette & Lorraine Koehl & Thomas Philippon, 2019. "The Labor Share in the Long Term: A Decline?," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 510-511-5, pages 35-51.
    2. Cette, Gilbert & Koehl, Lorraine & Philippon, Thomas, 2020. "Labor share," Economics Letters, Elsevier, vol. 188(C).
    3. Gilbert Cette & Jacques Mairesse & Yusuf Kocoglu, 2004. "Diffusion des TIC et croissance potentielle," Revue d'économie politique, Dalloz, vol. 114(1), pages 77-97.
    4. Nicolas Canry & Arnaud Lechevalier, 2006. "Wage share variations in France and Germany since 1970: what does really matter?," Post-Print halshs-00140529, HAL.
    5. R. S.-H. Lee & M. Pak, 2018. "Pro-competitive effects of globalisation on prices, productivity and markups: Evidence in the Euro Area," Documents de Travail de l'Insee - INSEE Working Papers g2018-06, Institut National de la Statistique et des Etudes Economiques.
    6. Bruneau, C. & De bandt, O. & Flageollet, A., 2004. "Inflation and the Markup in the Euro Area," Working papers 114, Banque de France.
    7. Gilbert Cette & Lorraine Koehl & Thomas Philippon, 2019. "Labor Shares in Some Advanced Economies," NBER Working Papers 26136, National Bureau of Economic Research, Inc.
    8. Baghli, M. & Brunhes-Lesage, V. & De bandt, O. & Fraisse, H. & Villetelle, J-P., 2004. "MASCOTTE: Model for AnalySing and foreCasting shOrT TErm developments," Working papers 106, Banque de France.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Philippe Askenazy & Xavier Timbeau, 2003. "Partage de la valeur ajoutée et rentabilité du capital en France et aux États-Unis : une réévaluation ; suivi d'un commentaire de Xavier Timbeau," Économie et Statistique, Programme National Persée, vol. 363(1), pages 167-189.
    2. Pierre-Alain Pionnier, 2009. "Le partage de la valeur ajoutée en France, 1949-2008 : aspects méthodologiques," Économie et Statistique, Programme National Persée, vol. 422(1), pages 3-30.
    3. Xavier Timbeau, 2002. "Le partage de la valeur ajoutée en France," Revue de l'OFCE, Presses de Sciences-Po, vol. 80(1), pages 63-85.
    4. repec:spo:wpecon:info:hdl:2441/1628 is not listed on IDEAS
    5. Roberto Torrini, 2005. "Profit Share and Returns on Capital Stock in Italy: the Role of Privatisations behind the Rise of the 1990s," CEP Discussion Papers dp0671, Centre for Economic Performance, LSE.
    6. Nicolas Canry, 2007. "La part salariale dans le PIB en France : comment corriger au mieux le phénomène de la salarisation croissante de l'emploi ?," Post-Print halshs-00149403, HAL.
    7. repec:hal:wpspec:info:hdl:2441/1628 is not listed on IDEAS
    8. repec:hal:spmain:info:hdl:2441/1628 is not listed on IDEAS
    9. Rapach, David E., 2002. "The long-run relationship between inflation and real stock prices," Journal of Macroeconomics, Elsevier, vol. 24(3), pages 331-351, September.
    10. Nurudeen Abu, 2019. "Inflation and Unemployment Trade-off: A Re-examination of the Phillips Curve and its Stability in Nigeria," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 13(1), March.
    11. Döpke, Jörg, 2001. "The "Employment Intensity" of Growth in Europe," Kiel Working Papers 1021, Kiel Institute for the World Economy (IfW Kiel).
    12. Baghli, M. & Brunhes-Lesage, V. & De bandt, O. & Fraisse, H. & Villetelle, J-P., 2004. "MASCOTTE: Model for AnalySing and foreCasting shOrT TErm developments," Working papers 106, Banque de France.
    13. Céline Prigent, 1999. "La part des salaires dans la valeur ajoutée en France : une approche macroéconomique," Économie et Statistique, Programme National Persée, vol. 323(1), pages 73-94.
    14. Matteo Mogliani, 2010. "Residual-based tests for cointegration and multiple deterministic structural breaks: A Monte Carlo study," Working Papers halshs-00564897, HAL.
    15. Wagner, Martin & Wied, Dominik, 2014. "Monitoring Stationarity and Cointegration," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100386, Verein für Socialpolitik / German Economic Association.
    16. Vicente Esteve & Manuel Navarro-Ibáñez & María A. Prats, 2013. "The present value model of US stock prices revisited: long-run evidence with structural breaks, 1871-2010," Working Papers 04/13, Instituto Universitario de Análisis Económico y Social.
    17. Valérie Mignon & Christophe Hurlin, 2007. "Une synthèse des tests de cointégration sur données de panel," Économie et Prévision, Programme National Persée, vol. 180(4), pages 241-265.
    18. Fabian Knorre & Martin Wagner & Maximilian Grupe, 2021. "Monitoring Cointegrating Polynomial Regressions: Theory and Application to the Environmental Kuznets Curves for Carbon and Sulfur Dioxide Emissions," Econometrics, MDPI, vol. 9(1), pages 1-35, March.
    19. N. Gregory Mankiw & Ricardo Reis, 2002. "Sticky Information versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1295-1328.
    20. Vincent Dadam & Nicola Viegi, 2021. "Estimating a New Keynesian Wage Phillips Curve," Working Papers 202107, University of Pretoria, Department of Economics.
    21. Martin Wagner & Dominik Wied, 2017. "Consistent Monitoring of Cointegrating Relationships: The US Housing Market and the Subprime Crisis," Journal of Time Series Analysis, Wiley Blackwell, vol. 38(6), pages 960-980, November.
    22. Huh, Hyeon-seung & Kim, David, 2013. "An empirical test of exogenous versus endogenous growth models for the G-7 countries," Economic Modelling, Elsevier, vol. 32(C), pages 262-272.
    23. G. Everaert, 2007. "Estimating Long-Run Relationships between Observed Integrated Variables by Unobserved Component Methods," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/452, Ghent University, Faculty of Economics and Business Administration.

    More about this item

    Keywords

    profit ratio; sharing of value added; medium term economic factors;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:ecoldc:ecop_158_0001. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-economie-et-prevision.htm .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.