Bericht

Determinants of functional income distribution in OECD countries

Wage shares have fallen substantially over the past 25 years. In the Euro area the (adjusted) wage share declined by almost ten percentage points. Recently, there has been a renewed interest in the determinants of functional income distribution. IMF (2007a) and EC (2007) find that technological change has been the main cause of the decline in the wage share and that globalization has been a secondary cause. This study, firstly, tries to replicate these studies to investigate the robustness of their findings. Secondly, the estimated wage share equation is extended to allow for distributional effects of financial globalization and for different effects of union density according to social security system. We find that the estimations on which the conclusions of IMF and EC are based suffer from serious econometric problems and that their findings are not robust. In particular, the effect of technological change is often not statistically significant. Globalization (in production), however, has a robust effect. Results from the extended model suggest economically important (and mostly statistically significant) effects of financial globalization and of union density of non-Ghent countries. However, overall the results are sensitive to the specification and the estimation method.

Sprache
Englisch

Erschienen in
Series: IMK Study ; No. 5/2009

Klassifikation
Wirtschaft
Thema
Lohnquote
Funktionelle Einkommensverteilung
Globalisierung
Finanzkapitalismus
Gewerkschaftsmitgliedschaft
Schätzung
OECD-Staaten

Ereignis
Geistige Schöpfung
(wer)
Stockhammer, Engelbert
Ereignis
Veröffentlichung
(wer)
Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)
(wo)
Düsseldorf
(wann)
2009

Handle
URN
urn:nbn:de:101:1-20091104881
Letzte Aktualisierung
10.03.2025, 11:43 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Bericht

Beteiligte

  • Stockhammer, Engelbert
  • Hans-Böckler-Stiftung, Institut für Makroökonomie und Konjunkturforschung (IMK)

Entstanden

  • 2009

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