Arbeitspapier
Labour shares and the role of capital and labour market imperfections
In continental Europe, labour shares in national income have exhibited considerable variation since 1970. Empirical and theoretical research suggests that the evolution of labour markets and labour market imperfections can, in part, explain this phenomenon. The author analyzes the role of capital market imperfections in the determination of the distribution of national income, comparing European and Anglo-Saxon countries. She uses a simple general-equilibrium model to trace the effects of credit and labour market imperfections on factor shares. Simulations indicate that improvements in capital markets can explain lower labour shares. An increase in the degree of employee power results in higher labour shares. Regression results confirm the author's findings. Improvements in credit markets and decreasing employee bargaining power have contributed to shrinking labour shares, especially in Europe. Openness is a negative determinant of labour shares.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Canada Discussion Paper ; No. 2009-2
- Klassifikation
-
Wirtschaft
Bargaining Theory; Matching Theory
Aggregate Factor Income Distribution
Unemployment: Models, Duration, Incidence, and Job Search
- Thema
-
Economic models
Labour markets
Financial institutions
Volkseinkommen
Lohnquote
Arbeitsmarktungleichgewicht
Finanzmarkt
Vergleich
Europa
Großbritannien
Nordamerika
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Suchanek, Lena
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Canada
- (wo)
-
Ottawa
- (wann)
-
2009
- DOI
-
doi:10.34989/sdp-2009-2
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Suchanek, Lena
- Bank of Canada
Entstanden
- 2009