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New Evidence on Factors Affecting Labour Shares in OECD Countries

Author

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  • George Agiomirgianakis
  • Maria Grydaki
  • George Sfakianakis

Abstract

This paper aims at contributing to the ongoing discussion about the causes of the declining trend of labour shares globally and the repercussions on income inequality by considering an inclusive set of labour share determinants consisting of factors reflecting monetary aspects, productivity, globalisation, competitiveness, human capital, and institutional dimensions. To examine the determinants of labour shares and the implications on income inequality, we focus on a panel of 30 OECD countries over 29 years, retrieving data from Penn World Table 10.01, OECD, and Worldwide Governance databases. We estimate a generalised method of moments (GMM) dynamic panel model to account for the potential endogeneity stemming from TFP, credit expansion, and FDI. Relevant policy implications from our results pertain mostly to social cohesion issues—all the more at the current juncture when non‐accommodative monetary policies are implemented at a large scale internationally.

Suggested Citation

  • George Agiomirgianakis & Maria Grydaki & George Sfakianakis, 2026. "New Evidence on Factors Affecting Labour Shares in OECD Countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 31(2), pages 2249-2274, April.
    • Handle: RePEc:wly:ijfiec:v:31:y:2026:i:2:p:2249-2274
    DOI: 10.1002/ijfe.70042
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