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Changes in Functional Income Distribution in Italy and Europe

Author

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  • Antonella Stirati

Abstract

The aim of this paper is to contribute to the interpretation of the factors that have led to the fall in the labour share in Europe from a non-orthodox perspective, drawing on Classical and Keynesian traditions. It focuses first on the Italian experience and then extends the analysis to other major countries in the Euro area: Germany, France and Spain. The paper examines the role of relative price changes between business sector services and manufacturing in affecting the labour share and real wages in the two sectors. It then proceeds to historical and statistical analysis of the set of factors that have affected real wage growth in manufacturing and finds that institutional changes, unemployment, employment growth and changes in product per worker in terms of the consumer price index, taken together, explain very well real wage trends between 1962 and 2006 in Italy, Germany and Spain.

Suggested Citation

  • Antonella Stirati, 2010. "Changes in Functional Income Distribution in Italy and Europe," Departmental Working Papers of Economics - University 'Roma Tre' 0119, Department of Economics - University Roma Tre.
  • Handle: RePEc:rtr:wpaper:0119
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    File URL: http://dipeco.uniroma3.it/public/WP%20119%20Stirati%202010%20+%202%20tab.pdf
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    References listed on IDEAS

    as
    1. Arjun Jayadev, 2007. "Capital account openness and the labour share of income," Cambridge Journal of Economics, Oxford University Press, vol. 31(3), pages 423-443, May.
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    Cited by:

    1. Sergio Cesaratto, 2012. "The endless eurozone crisis, where do we stand? a classical-kaleckian overview," STUDI ECONOMICI, FrancoAngeli Editore, vol. 2012(107), pages 35-63.
    2. Laura Chies, 2013. "Riforme del mercato del lavoro e distribuzione del reddito in Germania," ECONOMIA E SOCIETÀ REGIONALE, FrancoAngeli Editore, vol. 2013(2), pages 42-64.
    3. Stirati, Antonella, 2016. "Piketty and the increasing concentration of wealth: some implications of alternative theories of dis-tribution and growth," Centro Sraffa Working Papers CSWP18, Centro di Ricerche e Documentazione "Piero Sraffa".
    4. Antonella Stirati, 2016. "Real wages in the business cycle and the theory of income distribution: an unresolved conflict between theory and facts in mainstream macroeconomics," Cambridge Journal of Economics, Oxford University Press, vol. 40(2), pages 639-661.

    More about this item

    Keywords

    Income distribution; Labour share; Real wages; Italian economy; European economies;

    JEL classification:

    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

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