LEADER 05198nam 2200673 450 001 9910789140703321 005 20230803034313.0 010 $a92-2-127488-8 035 $a(CKB)3710000000082922 035 $a(EBL)1590990 035 $a(SSID)ssj0001507609 035 $a(PQKBManifestationID)11904238 035 $a(PQKBTitleCode)TC0001507609 035 $a(PQKBWorkID)11502764 035 $a(PQKB)11701995 035 $a(MiAaPQ)EBC1590990 035 $a(Au-PeEL)EBL1590990 035 $a(CaPaEBR)ebr10822278 035 $a(OCoLC)867929444 035 $a(EXLCZ)993710000000082922 100 $a20130911d2013 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 00$aWage-led growth $ean equitable strategy for economic recovery /$fedited by Marc Lavoie and Engelbert Stockhammer 210 1$aNew York :$cPalgrave Macmillan,$d2013. 215 $a1 online resource (209 p.) 225 0$aAdvances in labour studies 300 $aDescription based upon print version of record. 311 $a92-2-127487-X 320 $aIncludes bibliographical references. 327 $aCover; Half-Title; Title; Copyright; Contents; List of Tables and Figures; Tables; Figures; Foreword; Preface; Notes on Contributors; Introduction; Table I.1 Labour income share as percentage of GDP at current factor costs or wage share in GDP, in percentage, G20 countries, average values over the trade cycle, early 1980's-2008; Table I.2 The share of top 1 per cent earners' income in total income, mid-1970's to mid-2000's; 1 Wage-led Growth: Concept, Theories and Policies; Table 1.1 Pro-labour and pro-capital distributional policies; Table 1.2 Definition of profit-led and wage-led regimes 327 $aTable 1.3 Viability of growth regimes Table 1.4 Actual growth strategies in the economic regime/distributional policies framework; Table 1.5 Economic structure: wage-led and profit-led demand regimes; Table 1.6 Effects of an increase in the wage share and domestic and total demand regimes; Table 1.7 Economic structure: wage-led and profit-led productivity regimes; Table 1.8 Total productivity effect of an increase in the wage share, when the partial productivity regime is wage-led 327 $aTable 1.9 Summary of the results of Onaran and Galanis (2013): effects of a national and global one percentage point increase in the profit share 2 Why Have Wage Shares Fallen? An Analysis of the Determinants of Functional Income Distribution; Figure 2.1 Adjusted wage shares in advanced countries, Germany, Japan and the United States, 1970-2010; Figure 2.2 Adjusted wage share in developing countries; Figure 2.3 Key determinants of functional income distribution; Table 2.1 Results for the baseline specification and variations; Figure 2.4 Baseline explanatory variables for developing countries 327 $aFigure 2.5 Baseline explanatory variables for advanced countries Table 2.2 Results for the baseline specification - advanced countries; Figure 2.6 Contributions to the change in the wage share for all countries,1990/94 to 2000/04; Figure 2.7 Contributions to the change in the wage share for advanced countries,1980/84-2000/4; Table A.1 Variables - all countries; Table A.2 Variables - additional variables for advanced countries; 3 Is Aggregate Demand Wage-led or Profit-led? A Global Model; Figure 3.1 Wage share (adjusted, ratio to GDP at factor cost) 327 $aTable 3.1a Average growth of GDP (%), developed countries Table 3.1b Average growth of GDP (%), developing countries; Table 3.2 The summary of the effects of a 1 percentage point increase in the profit share; Table 3.3 Two wage-led recovery scenarios; 4 Wage-led or Profit-led Supply: Wages, Productivity and Investment; Table 4.1 Estimates of the impact of (investment) demand growth on productivity growth; Table 4.2 Estimates of the impact of real wage growth on productivity growth; Figure 4.1 A model of wage-led growth with exogenous productivity; Figure 4.2 A model of wage-led growth 327 $aFigure 4.3 A model of profit-led growth 330 $aThis book examines the causes and consequences associated with the falling wage share and rising inequality in income distribution, relating to both aggregate demand and labour productivity. It presents new empirical and econometric evidence regarding the economic causes and potential impact of changing income distribution. The volume argues that distributional shifts in favour of capital and the rise in income inequality have reduced economic growth and increased economic instability. 410 0$aAdvances in Labour Studies 606 $aWages 606 $aProfit 606 $aIncome distribution 606 $aEconomic development 615 0$aWages. 615 0$aProfit. 615 0$aIncome distribution. 615 0$aEconomic development. 676 $a339.4/1 701 $aLavoie$b M$g(Marc)$0122971 701 $aStockhammer$b Engelbert$f1969-$0288730 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910789140703321 996 $aWage-led growth$93848770 997 $aUNINA