I review the literature on labor's share of national income in developed and developing countries. These shares have varied systematically over the post-World War II period, rising until the late 1970s and then falling until now. Explanations for the decline in labor's share include technical...

We estimate the determinants of labor productivity growth in 8 new European Union (EU) member states that joined the Union in 2004. Our focus is on the impact of globalization and EU integration efforts on labor productivity growth. Previous studies test the impact of trade using either exports...

This special issue includes six papers on issues regarding the recent 2007-2009 global financial crisis. They discuss the underlying reasons for the crisis, offer reforms for preventing future crises, and provide some empirical estimates of the unit price of risk associated with the crisis. In...