We study the effects of North Macedonia's 2017 minimum wage reform - the largest in the country's history - using matched employer-employee administrative data covering the entire range of firms and employees, and a difference-in-differences design based on firms' pre-reform share of minimum...

Digital technology is increasingly blurring the lines between humans and machines, significantly influencing the distribution of income among workers. The question of how businesses can capitalise on the benefits of digital advancement by optimising internal human capital allocation during the...

In the context of improving the multi-level capital market structure and promoting common prosperity, we examine the impact of NEEQ's (National Equities Exchange and Quotations) tiered system on corporate labour share. We find that the corporate labour share significantly increases when the firm...

This paper examines the effect of government procurement on the firm-level labor share in China. Using manually collected local government contract data matched with A-share non-financial listed firms from 2015 to 2023, we find that firms receiving government procurement contracts experience...

This research aimed to identify existence of a New Keynesian Phillips Curve in Vietnam. The examined period was 2012Q2 - 2025Q2, using secondary macroeconomics data and the Generalised Moments Method at 95% level of confidence. The dependent variables were price inflation and wage inflation,...

Brand capital - an intangible asset that differentiates a firm's products - has grown in recent decades, alongside the rise of intangible investments and the decline in the labor share. Trademarks are legal claims on brand capital and are actively traded across firms, providing a setting to...

This study analyses the influence of economic growth on inequality, concentrating on the role of governments as mediators. The period studied is from 2000 to 2020, encompassing 11 post Soviet countries. The primary estimation method used is the two-stage least squares for panel data. Despite the...

Digital technology is increasingly blurring the lines between humans and machines, significantly influencing the distribution of income among workers. The question of how businesses can capitalise on the benefits of digital advancement by optimising internal human capital allocation during the...

This article assesses the potential effects of the macroeconomic rates of return of private and public investment on wage share for 16 OECD countries from 1980 to 2022. Using the macroeconomic rates of return of investments and the wage share at factor cost and at market price, it was possible...

This paper shows that in an economy where distortions prevent firms from using their profit-maximizing amounts of capital and labor, removing these distortions can generate both an efficiency gain and a higher aggregate labor share. We use firm-level data on Chinese manufacturing, mining, and...

This comment critically examines the recent claim by Alcobia and Barradas that the European Union follows a wage-led growth regime, warranting pro-labour policy intervention. While their findings support a clear policy stance, closer inspection reveals significant methodological and empirical...

This paper investigates the role of family firms in the fall of the labor share and rise in corporate saving in Germany from 1993 to 2019. Combining a new Family Ownership and Governance (FOG) database with financial data, we analyze 929 publicly listed firms. Our findings show that firm-level...

We study the heterogeneous pass-through of monetary policy across firms with different labor shares. The goal is to obtain evidence on a labor-intensity transmission channel that should in fact be operating for other kinds of demand shocks as well. Our basic idea is that labor is special: unlike...

This study examines the impact of corporate venture capital (CVC) on the labor income share of science and innovation enterprises, focusing on data from China's Science and Technology Innovation Board (STIB) and Growth Enterprise Market (GEM) between 2010 and 2022. Empirical results reveal a...

This paper investigates the role of family firms in the fall of the labor share and rise in corporate saving in Germany from 1993 to 2019. Combining a new Family Ownership and Governance (FOG) database with financial data, we analyze 929 publicly listed firms. Our findings show that firm-level...

This paper investigates the role of family firms in the fall of the labor share and rise in corporate saving in Germany from 1993 to 2019. Combining a new Family Ownership and Governance (FOG) database with financial data, we analyze 929 publicly listed firms. Our findings show that firm-level...

I evaluate the link between automation and the rise in top income concentration when inequality matters for macro. The novel mechanism is that automation redistributes income towards high-wealth households who save more, which lowers the interest rate and incites firms to automate more. To...

We study the heterogeneous pass-through of monetary policy across firms with different labor shares. The goal is to obtain evidence on a labor-intensity transmission channel that should in fact be operating for other kinds of demand shocks as well. Our basic idea is that labor is special: unlike...

This paper reveals a new determinant of wage markdowns at the firm level, namely, the product scope. Using matched employer-employee data on Danish manufacturing firms, we document a negative elasticity between wages and firm scope, which is of a similar magnitude but opposite sign as the...

Climate finance refers to the financing that addresses climate change. Its implementation affects industrial relations, and the labor income share of enterprises. This study conducts theoretical and empirical analyses to explore the impact of climate finance on the labor income share of Chinese...

Using comprehensive firm-level databases, we study the micro-basis of different trends in aggregate and individual labor shares in China's manufacturing sector during 1998-2016. We find that (1) redistributing value added towards the bottom of labor share distribution causes the decline of...

This paper reports first results from the extension of the CBR Labour Regulation Index (CBR-LRI) to include changes in labour laws around the world over the last decade. The index, which previously went up to 2013, now codes for labour laws in 117 countries, equivalent to 95% of world GDP, for...