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promise of this potential eventually culminated in the creation of global value chains and production networks. These required …
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We study the link between second-best production efficiency and the constraints on income distribution imposed by … [1972], Hahn [1973], and Sadka [1977] about firm-specific profit taxation leading to second-best production efficiency …-best production efficiency under some configuarations of private ownership without any (or at best, uniform) profit taxation. The …
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Since the 1980s, the share of wages in national income declined almost all over the world. This paper provides an overview of the evolution of labour's share in selected OECD countries. Several theoretical approaches explaining functional income distribution are summarised. In light of the...
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