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A Decline in Labor's Share with Capital Accumulation and Complementary Factor Inputs : An Application of the Morishima Elasticity of Substitution

Paul, Saumik - 2019

The role of capital accumulation as a driver of the labor income share requires capital and labor to be substitutes, which appears paradoxical in a world predominantly characterized by complementarity between capital and labor. This paper argues that the composition of skills in the labor force...

Persistent link: https://www.econbiz.de/10012870261

Distributional Consequences of Capital Accumulation, Globalisation and Financialisation in the US

Karanassou, Marika - 2013

In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the … functional-personal income distribution nexus. We analyse the labour share under the prism of monopoly and frictional growth, and … disclose the dramatic upward trend in inequality. On this basis, we estimate a two-equation model for the income distribution …

Persistent link: https://www.econbiz.de/10013085470

Investment Crowding-Out and Labor Market Effects of Financialization in the U.S

González, Ignacio - 2013

This paper studies the impact of financialization on unemployment in the U.S. We estimate a dynamic multi-equation macro labor model including labor demand, labor supply, wage-setting and capital accumulation equations. Financialization appears as a key determinant of capital accumulation which,...

Persistent link: https://www.econbiz.de/10013084673

Labor Income Share Dynamics with Variable Elasticity of Substitution

Paul, Saumik - 2019

as a non-linear function of the Weibull distribution of capital-labor ratio. Empirical findings support the choice of a …

Persistent link: https://www.econbiz.de/10012867988

The Effect of Firm-Level Investment on Inequality and Poverty Around the World

Tosun, Mehmet Serkan; Watson, Ethan; Yildiz, Serhat - 2022

This paper investigates the effect of firm-level investment on the levels of income inequality and poverty. Using a sample of firms from 87 countries for the period from 1979 to 2018, we document that firm-level investment is negatively associated with various measures of income inequality. This...

Persistent link: https://www.econbiz.de/10014238707

Does Reminding of Behavioural Biases Increase Returns from Financial Trading? A Field Experiment

De Paola, Maria - 2017

We ran a field experiment to investigate whether nudge policies, consisting in behavioural insight messaging, help to improve performance in financial trading. Our experiment involved students enrolled in a financial trading course in an Italian University who were invited to trade on Borsa...

Persistent link: https://www.econbiz.de/10012947731

Assessing the Impact of Incomes Policy : The Italian Experience

Pastore, Francesco - 2010

The Saint Valentine's decree (1984) and the ensuing hard fought referendum (1985), which reduced the automatisms of scala mobile, started a process of redefinition of wage fixing in Italy, which culminated with the final abolition of scala mobile (1992) and the approval of Protocollo d'intesa...

Persistent link: https://www.econbiz.de/10013139721

The Effects of Globalization and Technology on the Elasticity of Substitution

Sala, Hector - 2017

Cobb-Douglas technology). Given the relevance of σ for economic growth and the functional distribution of income, the …

Persistent link: https://www.econbiz.de/10012950903

Factor Shares, the Price Markup, and the Elasticity of Substitution between Capital and Labor

Raurich, Xavier - 2011

In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the...

Persistent link: https://www.econbiz.de/10013120133

Does Electricity Drive Structural Transformation? Evidence from the United States

Gaggl, Paul - 2020

Electricity is a general purpose technology and the catalyst for the second industrial revolution. What was its impact on the structure of employment? We use U.S. Census data from 1910 to 1940 and measure electrification with the length of higher-voltage electricity lines. Instrumenting for...

Persistent link: https://www.econbiz.de/10012833880