Wage-led Growth : An equitable strategy for economic recovery

Online-Ressource (209 p)

Advances in Labour Studies ; v.4

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Cover; Half-Title; Title; Copyright; Contents; List of Tables and Figures; Tables; Figures; Foreword; Preface; Notes on Contributors; Introduction; Table I.1 Labour income share as percentage of GDP at current factor costs orwage share in GDP, in percentage, G20 countries, average values over the tradecycle, early 1980s-2008; Table I.2 The share of top 1 per cent earners' income in total income, mid-1970s to mid-2000s; 1 Wage-led Growth: Concept, Theories and Policies; Table 1.1 Pro-labour and pro-capital distributional policies; Table 1.2 Definition of profit-led and wage-led regimes

Table 1.3 Viability of growth regimesTable 1.4 Actual growth strategies in the economic regime/distributionalpolicies framework; Table 1.5 Economic structure: wage-led and profit-led demand regimes; Table 1.6 Effects of an increase in the wage share and domestic and totaldemand regimes; Table 1.7 Economic structure: wage-led and profit-led productivity regimes; Table 1.8 Total productivity effect of an increase in the wage share, when thepartial productivity regime is wage-led

Table 1.9 Summary of the results of Onaran and Galanis (2013): effects of anational and global one percentage point increase in the profit share2 Why Have Wage Shares Fallen? An Analysis of the Determinants of Functional Income Distribution; Figure 2.1 Adjusted wage shares in advanced countries, Germany, Japan andthe United States, 1970-2010; Figure 2.2 Adjusted wage share in developing countries; Figure 2.3 Key determinants of functional income distribution; Table 2.1 Results for the baseline specification and variations; Figure 2.4 Baseline explanatory variables for developing countries

Figure 2.5 Baseline explanatory variables for advanced countriesTable 2.2 Results for the baseline specification - advanced countries; Figure 2.6 Contributions to the change in the wage share for all countries,1990/94 to 2000/04; Figure 2.7 Contributions to the change in the wage share for advanced countries,1980/84-2000/4; Table A.1 Variables - all countries; Table A.2 Variables - additional variables for advanced countries; 3 Is Aggregate Demand Wage-led or Profit-led? A Global Model; Figure 3.1 Wage share (adjusted, ratio to GDP at factor cost)

Table 3.1a Average growth of GDP (%), developed countriesTable 3.1b Average growth of GDP (%), developing countries; Table 3.2 The summary of the effects of a 1 percentage point increase in the profit share; Table 3.3 Two wage-led recovery scenarios; 4 Wage-led or Profit-led Supply: Wages, Productivity and Investment; Table 4.1 Estimates of the impact of (investment) demand growth on productivity growth; Table 4.2 Estimates of the impact of real wage growth on productivity growth; Figure 4.1 A model of wage-led growth with exogenous productivity; Figure 4.2 A model of wage-led growth

Figure 4.3 A model of profit-led growth

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