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Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence /
This paper documents the downward trend in the labor share of global income since the early 1990s, as well as its heterogeneous evolution across countries, industries and worker skill groups, using a newly assembled dataset, and analyzes the drivers behind it. Technological progress, along with vary...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , , , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
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| Colección: | IMF working paper ;
WP/17/169. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- Cover; Contents; Abstract; I. Introduction; II. Trends in the Labor Share of Income: Key Facts; III. Drivers of the Labor Share of Income: Key Concepts and Mechanisms; IV. Analyzing Trends in the Labor Share of Income: Empirical Analysis; A. Shift-Share Analysis; B. Analysis of Long-Term Changes in the Aggregate Labor Share of Income; C. Robustness of Aggregate-Level Regression Results; D. Analysis of Long-Term Changes in Sectoral Labor Shares; E. Analysis of Long-Term Changes in Labor Shares by Skill; V. Summary and Policy Implications; Annex; Annex 1. Wages and Deflators.
- Annex 2. A Theoretical Model of Relative Cost of Capital, Offshoring, and Labor Shares of Income in Advanced Economies and Emerging Market and Developing EconomiesAnnex 3. Country Coverage and Data; Annex 4. Tables; Annex 5. Appendix figures; References; Figures; 1. Evolution of the Labor Share of Income; 2. Labor Shares and Income Inequality; 3. Distribution of Estimated Trends in Labor Shares, 1991-2014; 4. Estimated Trends in Labor Shares by Country and Sector; 5. Labor Share Evolutions and Labor Force Composition by Skill Level; 6. Trends in Potential Drivers of Labor Shares.
- 7. Change in the Relative Price of Investment and Capital Intensity8. Changes in Global Value Chain Participation and Capital Intensity; 9. Evolution of the Adjusted Labor Share of Income; 10. Shift-Share Analysis; 11 Aggregate Results; 12. Heterogeneity across Sectors and Countries; 13. Sectoral Results, Advanced Economies; 14. Contributions to Aggregate Labor Share Change by Skill, 1995-2009; 15. Decomposition of the Labor Share of Income, 1991-2014; 16. Product Wages, Consumption Wages, and Productivity in Manufacturing.
- 17. Impact of the Costs of Capital and Offshoring on the Set of Tasks Offshored from a High-Wage County to a Low-Wage CountyAppendices; 1. Estimated Trends in Labor Shares across the World; 2. Heterogeneity in the Evolution of Key Drivers of the Labor Share; Tables; 1. Country Coverage; 2. Data Sources; 3. Baseline Aggregate Results; 4. Stacked Aggregate Results; 5. Aggregate Results, Robustness (User Cost); 6. Aggregate Results, Robustness (Alternative Measure of Offshoring); 7. Aggregate Results, Robustness (Other Robustness Checks); 8. Aggregate Results, Robustness (Measurement Issues).
- 9. Baseline Sectoral Results10. Aggregate Results by Skill Level; 11. Sectoral Results by Skill Level; 12. Sectoral Results by Skill Level, Controlling for Skill Compensation; 13. Sectoral Results by Skill Level, Controlling for Policy Institution Variables.