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

Author

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  • Mustapha Baghli
  • Gilbert Cette
  • Arnaud Sylvain

Abstract

[eng] Determinants of Profit Ratio in France and Other Major Industrialised Countries : Empirical Analysis Over the Period from 1970 to 2000.. 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. [fre] Determinants of Profit Ratio in France and Other Major Industrialised Countries : Empirical Analysis Over the Period from 1970 to 2000.. 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," Économie et Prévision, Programme National Persée, vol. 158(2), pages 1-25.
  • Handle: RePEc:prs:ecoprv:ecop_0249-4744_2003_num_158_2_6899
    Note: DOI:10.3406/ecop.2003.6899
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    References listed on IDEAS

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    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. 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.
    3. 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.
    4. 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.
    5. 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.
    6. 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.
    7. Mihoubi, F., 1999. "Le partage de la valeur ajoutee en France et en Allemagne," Working papers 64, Banque de France.
    8. 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.
    9. 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.
    10. 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.
    11. 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(01), pages 91-115, March.
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    Cited by:

    1. Bruneau, C. & De bandt, O. & Flageollet, A., 2004. "Inflation and the Markup in the Euro Area," Working papers 114, Banque de France.
    2. repec:hal:journl:halshs-00140529 is not listed on IDEAS
    3. 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.

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    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

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