UID:
edocfu_9958073089502883
Format:
1 online resource (35 p.)
Edition:
1st ed.
ISBN:
1-4623-0640-3
,
1-4527-0775-8
,
1-283-43772-4
,
9786613823625
,
1-4519-1007-X
Series Statement:
IMF working paper ; WP/06/294
Content:
The past two decades have seen a decline in labor's share of national income in several industrial countries. This paper analyzes the role of three factors in explaining movements in labor's share--factor-biased technological progress, openness to trade, and changes in employment protection--using a panel of 18 industrial countries over 1960-2000. Since most studies suggest that globalization and rapid technological progress (associated with accelerated information technology development) began in the mid-1980s, the sample is split in 1985 into preglobalization/pre-IT revolution and postglobalization/post-IT revolution eras. The results suggest that the decline in labor's share during the past few decades in the OECD member countries may have been largely an equilibrium, rather than a cyclical, phenomenon, as the distribution of national income between labor and capital adjusted to capital-augmenting technological progress and a more globalized world economy.
Note:
"December 2006."
,
""Contents""; ""I. INTRODUCTION""; ""II. LITERATURE REVIEW""; ""III. EMPIRICAL STRATEGY""; ""IV. RESULTS""; ""V. CONCLUSIONS""; ""Appendix I. Compensation Share""; ""Appendix II. A First Pass at Data: Bivariate Regression Results""; ""Appendix III. Correlation Matrix of Explanatory Variables""; ""Appendix IV. Multivariate Regression Results for Alternative Specifications""; ""Appendix V. Inequality""; ""Appendix VI. Multivariate regression results for alternative specifications""; ""Appendix VII. Capital-Augmenting Technological Progress""; ""References""
,
English
Additional Edition:
ISBN 1-4518-6554-6
Language:
English
