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"Unwarranted" Wage Changes and the Return on Capital
Katsimi, Margarita; Kalyvitis, Sarantis; Moutos, Thomas - CESifo - 2009
Casual empiricism suggests that “unwarranted” wage changes, defined as the part of wage growth that is not explained by changes in labour productivity, are negatively associated with the return on capital. The main point of this paper is to show that “unwarranted” wage changes have no...
Persistent link: https://www.econbiz.de/10008572545
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The Impact of Fiscal Policy on Profits
Katsimi, Margarita; Sarantides, Vassilis - CESifo - 2009
This paper investigates the impact of fiscal policy on profits using panel data for 19 high-income OECD countries … during the period 1975-1999. We estimate a profit equation in which profits depend on a set of fiscal variables. Our … capital expenditures are associated with higher profits, while expenditures on wages and salaries deteriorate profits. At the …
Persistent link: https://www.econbiz.de/10008596594