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The aim of this paper is to investigate the interplay between structural change, interpreted as the secular process of sectoral transformation, and labour productivity growth in the EU in several new dimensions. First, based on the latest data, we document the size of the negative effect that...
Persistent link: https://www.econbiz.de/10012802797
Long run economic growth goes along with structural change. Recent work has identified explanatory factors on the demand side (non-homothetic preferences) and on the supply-side, in particular differential productivity growth across sectors and differences in factor proportions and capital...
Persistent link: https://www.econbiz.de/10013059021
Long run economic growth goes along with structural change. Recent work has identified explanatory factors on the demand side (non-homothetic preferences) and on the supply-side, in particular differential productivity growth across sectors and differences in factor proportions and capital...
Persistent link: https://www.econbiz.de/10010235832
Long run economic growth goes along with structural change. Recent work has identified explanatory factors on the demand side (non-homothetic preferences) and on the supply-side, in particular differential productivity growth across sectors and differences in factor proportions and capital...
Persistent link: https://www.econbiz.de/10014148007
Persistent link: https://www.econbiz.de/10014235190
This paper studies the effect of structural change on the historical path of aggregate labor productivity growth for a large sample of European countries, and it builds a quantitative multi-sector growth model to analyze the potential impact that structural change may have on future productivity...
Persistent link: https://www.econbiz.de/10012625868
One of the most significant stylized facts in the U.S. economy since the 1970s has been the decline in the share of national income accruing to labor. Many recent studies have sought to explain this trend, with most explanations focusing on structural changes such as deindustrialization,...
Persistent link: https://www.econbiz.de/10012660337
Persistent link: https://www.econbiz.de/10012498728
Persistent link: https://www.econbiz.de/10012796919
This paper sheds light on the importance of aggregation bias in the analysis of wage shares developments over time and across countries. We focus on five European countries and the United States and show that the trend decline in the aggregate wage share observed in these countries over much of...
Persistent link: https://www.econbiz.de/10014118182