Globalization And The Decline In Labor Shares
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Globalization And The Decline In Labor Shares
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Author : Andrew T. Young
language : en
Publisher:
Release Date : 2017
Globalization And The Decline In Labor Shares written by Andrew T. Young and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
We employ data from up to 125 countries during the 1970-2009 period to explore the relationship between globalization and labor share. Existing studies report a negative relationship between trade and investment flows and labor shares. While we also find that economic flows are often negatively related to labor shares, measures of social globalization tend to be positively related to labor shares. While greater mobility of goods and capital may be associated with increases in capital's bargaining power, all else equal, greater flows of information, ideas, and people may increase the bargaining power of workers.
Effects Of Globalization On Labor S Share In National Income
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Author : Anastasia Guscina
language : en
Publisher: International Monetary Fund
Release Date : 2006-12
Effects Of Globalization On Labor S Share In National Income written by Anastasia Guscina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-12 with Business & Economics categories.
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.
What Explains The Decline Of The U S Labor Share Of Income An Analysis Of State And Industry Level Data
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Author : Mr.Yasser Abdih
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-24
What Explains The Decline Of The U S Labor Share Of Income An Analysis Of State And Industry Level Data written by Mr.Yasser Abdih and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-24 with Business & Economics categories.
The U.S. labor share of income has been on a secular downward trajectory since the beginning of the new millennium. Using data that are disaggregated across both state and industry, we show the decline in the labor share is broad-based but the extent of the fall varies greatly. Exploiting a new data set on the task characteristics of occupations, the U.S. input-output tables, and the Current Population Survey, we find that in addition to changes in labor institutions, technological change and different forms of trade integration lowered the labor share. In particular, the fall was largest, on average, in industries that saw: a high initial intensity of “routinizable” occupations; steep declines in unionization; a high level of competition from imports; and a high intensity of foreign input usage. Quantitatively, we find that the bulk of the effect comes from changes in technology that are linked to the automation of routine tasks, followed by trade globalization.
Why Is Labor Receiving A Smaller Share Of Global Income Theory And Empirical Evidence
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Author : Mai Chi Dao
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-24
Why Is Labor Receiving A Smaller Share Of Global Income Theory And Empirical Evidence written by Mai Chi Dao and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-24 with Business & Economics categories.
This paper documents the downward trend in the labor share of global income since the early 1990s, as well as its heterogeneous evolution across countries, industries and worker skill groups, using a newly assembled dataset, and analyzes the drivers behind it. Technological progress, along with varying exposure to routine occupations, explains about half the overall decline in advanced economies, with a larger negative impact on middle-skilled workers. In emerging markets, the labor share evolution is explained predominantly by global integration, particularly the expansion of global value chains that contributed to raising the overall capital intensity in production.
Does Economic Globalization Cause The Decline Of The Labor Share
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Author : Weibiao Li
language : en
Publisher:
Release Date : 2021
Does Economic Globalization Cause The Decline Of The Labor Share written by Weibiao Li and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
I examine the empirical relationship between economic globalization (measured by outsourcing) and the labor share in a panel of up to 40 countries and 14 two-digit manufacturing industries covering a period from 1996 through 2012. Empirical studies investigate the role of economic globalization in explaining labor share, by grouping countries and industries into three groups: labor intensive vs capital intensive, skilled vs unskilled labor force and labor market institutions. This study provides additional empirical evidence to challenge the argument that economic globalization contributes to the decline of the labor share. In particular, the positive correlation between the labor share and economic globalization suggests that economic globalization might not be the contributor to the decline of the labor share.
How Has The Globalization Of Labor Affected The Labor Share In Advanced Countries
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Author : Florence Jaumotte
language : en
Publisher:
Release Date : 2007
How Has The Globalization Of Labor Affected The Labor Share In Advanced Countries written by Florence Jaumotte and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Foreign trade and employment categories.
Labor markets around the world have become increasingly integrated over the last two decades, with the entry of China, India and the former Eastern bloc into the world trading system, the removal of restrictions on trade and capital flows, and rapid technological progress. At the same time, the share of labor in national income decreased in most advanced countries. This paper uses a labor share equation derived from a translog revenue function to estimate the contributions of globalization, technological progress, and labor market policies to the decline in the labor share. The results, obtained for 18 advanced countries over 1982- 2002, suggest that globalization was only one of several factors that have affected the labor share. Technological progress, especially in the information and communications sectors, has had a bigger impact, particularly on the labor share in unskilled sectors.
How Has The Globalization Of Labor Affected The Labor Income Share In Advanced Countries
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Author : Irina Tytell
language : en
Publisher:
Release Date : 2014
How Has The Globalization Of Labor Affected The Labor Income Share In Advanced Countries written by Irina Tytell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Labor markets around the world have become increasingly integrated over the last two decades, with the entry of China, India and the former Eastern bloc into the world trading system, the removal of restrictions on trade and capital flows, and rapid technological progress. At the same time, the share of labor in national income decreased in most advanced countries. This paper uses a labor share equation derived from a trans-log revenue function to estimate the contributions of globalization, technological progress, and labor market policies to the decline in the labor share. The results, obtained for 18 advanced countries over 1982-2002, suggest that globalization was only one of several factors that have affected the labor share. Technological progress, especially in the information and communications sectors, has had a bigger impact, particularly on the labor share in unskilled sectors.
How Has The Globalization Of Labor Affected The Labor Income Share In Advanced Countries
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Author : Irina Tytell
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2007-12-01
How Has The Globalization Of Labor Affected The Labor Income Share In Advanced Countries written by Irina Tytell and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with categories.
Labor markets around the world have become increasingly integrated over the last two decades, with the entry of China, India and the former Eastern bloc into the world trading system, the removal of restrictions on trade and capital flows, and rapid technological progress. At the same time, the share of labor in national income decreased in most advanced countries. This paper uses a labor share equation derived from a translog revenue function to estimate the contributions of globalization, technological progress, and labor market policies to the decline in the labor share. The results, obtained for 18 advanced countries over 1982- 2002, suggest that globalization was only one of several factors that have affected the labor share. Technological progress, especially in the information and communications sectors, has had a bigger impact, particularly on the labor share in unskilled sectors.
The Structural Determinants Of The Labor Share In Europe
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Author : Dilyana Dimova
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-22
The Structural Determinants Of The Labor Share In Europe written by Dilyana Dimova and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-22 with Business & Economics categories.
The labor share in Europe has been on a downward trend. This paper finds that the decline is concentrated in manufacture and among low- to mid-skilled workers. The shifting nature of employment away from full-time jobs and a rollback of employment protection, unemployment benefits and unemployment benefits have been the main contributors. Technology and globalization hurt sectors where jobs are routinizable but helped others that require specialized skills. High-skilled professionals gained labor share driven by productivity aided by flexible work environments, while low- and mid-skilled workers lost labor share owing to globalization and the erosion of labor market safety nets.
The Elusive Explanation For The Declining Labor Share
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Author : Gene M. Grossman
language : en
Publisher:
Release Date : 2021
The Elusive Explanation For The Declining Labor Share written by Gene M. Grossman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Globalization categories.
A vast literature seeks to measure and explain the apparent decline in the labor share in national income that has occurred in recent times in the United States and elsewhere. The culprits include technological change, increased globalization and the rise of China, the enhanced exercise of market power by large firms in concentrated product markets, the decline in unionization rates and the erosion in the bargaining power of workers in labor markets, and the changing composition of the workforce due to a slowdown in population growth and a rise in educational attainment. We review this literature, with special emphasis on the pitfalls associated with using cross-sectional data to assess this phenomenon and the reasons why the body of papers collectively explains the phenomenon many times over.