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Record Nr. |
UNINA9910788412403321 |
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Autore |
Guscina Anastasia |
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Titolo |
Effects of Globalization on Labor’s Share in National Income / / Anastasia Guscina |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-0640-3 |
1-4527-0775-8 |
1-283-43772-4 |
9786613823625 |
1-4519-1007-X |
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Descrizione fisica |
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1 online resource (35 p.) |
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Collana |
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Soggetti |
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National income - Developed countries - Econometric models |
Foreign trade and employment - Developed countries |
Wages and labor productivity - Developed countries |
Employees - Effect of technological innovations on - Developed countries |
Wages - Effect of technological innovations on - Developed countries |
Wage bargaining - Developed countries |
Globalization |
Labor |
Macroeconomics |
Wages, Compensation, and Labor Costs: General |
Measurement and Data on National Income and Product Accounts and Wealth |
Environmental Accounts |
Labor Economics: General |
Employment |
Unemployment |
Wages |
Intergenerational Income Distribution |
Aggregate Human Capital |
Aggregate Labor Productivity |
Labor Contracts |
Labour |
income economics |
Labor share |
National income |
Employment protection |
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Labor economics |
Economic theory |
Manpower policy |
United States |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Nota di bibliografia |
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Includes bibliographical references (p. 32-33). |
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Nota di contenuto |
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""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"" |
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Sommario/riassunto |
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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. |
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