Labor Income Share
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Labor Income Share In Asia
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Author : Gary Fields
language : en
Publisher: Springer
Release Date : 2019-08-09
Labor Income Share In Asia written by Gary Fields and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-09 with Business & Economics categories.
This is the first study that puts together a comprehensive and in-depth analysis of the drivers of the labor income share across a number of countries in Asia. This book provides an insightful companion to the study of labor income shares that plays a vital role in understanding the relationship between national income and personal income, and the relationship between wage inequality and wealth inequality. The timing of the book is ideal, as the ongoing debate over a global decline in the labor income share is far from settled. To this extent, evidence from the Asian countries is mixed. The labor income share in some Asian countries has been rising since the 1990s. The purpose of this edited volume is to gain more insights on the potential drivers of the Asian experience. The first half of the book pays attention to the measurement problems related to the earnings of self-employed and workers in the informal sector. Then it puts together country case studies examining a wide range of factors driving the labor income share in Asia.
Labor Income Share
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Author : Saumik Paul
language : en
Publisher: Springer Nature
Release Date : 2020-10-01
Labor Income Share written by Saumik Paul and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-10-01 with Business & Economics categories.
This book is about labor income share, which measures the share of national income paid in wages. The global share of income going towards labor is declining, which suggests a more unequal distribution of income. This has sparked debates about fair distribution of personal incomes among academics and policymakers alike. This book joins the discussion by bringing together recent developments in theoretical and empirical research on labor income share and novel insights on the measurement of the labor income share. The aim of this book is to help design policies to reduce inequality and provide useful knowledge to academics, policymakers from government agencies, policy aides in research institutions and think tanks, and broader audiences from public and private organizations.
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.
On The Optimal Labor Income Share
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Author : Jakub Growiec
language : en
Publisher:
Release Date : 2019
On The Optimal Labor Income Share written by Jakub Growiec and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Income distribution categories.
Labor's share of income has attracted interest in recent years reflecting its apparent protracted decline. These falls, witnessed across many countries, are usually deemed undesirable. Any such assertion, however, begs the question of what is the socially optimal labor share. We address this question using a micro-founded endogenous growth model calibrated on US data. We find that in our central calibration the socially optimal labor share is 17% (11 pp) above the decentralized equilibrium, calibrated to match the average observed in history. We also study the dependence of both long-run growth equilibria on model parameters and relate our results to Piketty's "laws of capitalism". Finally, we demonstrate that cyclical movements in factor income shares are socially optimal and that the decentralized equilibrium typically does not generate excess volatility.
Labor Income Share Dynamics With Variable Elasticity Of Substitution
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Author : Saumik Paul
language : en
Publisher:
Release Date : 2019
Labor Income Share Dynamics With Variable Elasticity Of Substitution written by Saumik Paul and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The accumulation principle suggests that complementarity between capital and labor forces the labor income share to rise in the presence of capital accumulation. The CES model estimates using data from 20 Japanese industries between 1970 and 2012 explain the same outcome but with substitutable factor inputs. To resolve this puzzle, this paper proposes a variable elasticity of substitution (VES-W) framework that embodies a variable elasticity of substitution and a share parameter as a non-linear function of the Weibull distribution of capital-labor ratio. Empirical findings support the choice of a variable elasticity of substitution. While the estimated structural parameters calibrate the actual output level and the movements in factor income shares reasonably well in both the CES and VES-W models, the VES-W model outcomes support the accumulation principle by achieving the same result but with complementary factor inputs.
Understanding The Global Decline In The Labor Income Share
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Author : Saumik Paul
language : en
Publisher:
Release Date : 2020
Understanding The Global Decline In The Labor Income Share written by Saumik Paul and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
Globally, the share of income going to labor (the “labor income share”) is declining. However, this aggregate decline hides more than it reveals. While the labor income share has decreased for low-skilled workers, this has been concurrent with an increase for high-skilled workers. Globalization leading to a growing skill premium and an increasing complementarity between capital and skill through the advancement of technology explains the polarization of labor income shares across the skill spectrum.
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.
Labor Income Share Consequences Of Global Financial Crisis
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Author : Sinem Tansever
language : en
Publisher:
Release Date : 2017
Labor Income Share Consequences Of Global Financial Crisis written by Sinem Tansever 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.
Purpose: The aim of this study is to examine the effects of the 2008 financial crisis on the labor share in Turkey, by conducting a comparative analysis of various labor share measures using both micro survey and aggregate data. Design/Methodology/Approach: By adopting aggregate data- based labor share measures to micro survey data, four different labor share measures in the total market income were calculated using micro data from the 2006 to 2014 Income and Living Conditions Survey of Turkey. Two additional labor share measures were calculated using aggregated data obtained from World Input Output Database's Socio Economics Accounts. Findings: The results of the micro-data calculations indicated a substantial and permanent increase during the crisis due to the labor hoarding in the labor market leading to an increase in skilled employee labor income share at the expense of unskilled employee labor income share. The results obtained from aggregate data-based labor share calculations with two different measures were relatively smaller than micro data-based labor shares due to the large share of informal employment in Turkey. Further, the labor shares obtained from aggregate data decreased during the 2008 financial crisis, in contrast to the labor shares from micro data. Research limitations/implications: Due to the lack of the applicable aggregated data, four labor share measures adopted to micro data could not be used for aggregated data-based labor share calculations. Therefore, a straightforward comparison between the micro and macro data based results of the labor share measures could not be made. Originality/Value: As the first attempt using micro survey data for calculation of Turkey's factor shares, this study reveals the labor market consequences of global financial crisis in Turkey in search of the evolution of labor share in the market income and provide a comparison between micro and macro data-based results.
Labor Income Share At The Firm Level Global Trends
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Author : Saumik Paul
language : en
Publisher:
Release Date : 2019
Labor Income Share At The Firm Level Global Trends written by Saumik Paul and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Micro-level studies provide insightful knowledge on the drivers of the labor income share. This paper introduces a novel firm-level dataset on the labor income share. Using the World Bank Enterprise Survey data, we put together an unbalanced panel comprising 146,666 firms from 139 countries and spanning a period from 2002 to 2017. We define the firm-level labor income share following three alternative approaches and compare these estimates across income groups, regions, firm sizes, and ownership types. The estimates average around .45, with considerable variations across regions and firm characteristics. Manufacturing firms tend to have a lower labor income share as the firm size increases. Large firms in services, both foreign and state-owned, pay a higher share of income to laborers. Regression results indicate that laborers in more productive firms enjoy a lower share of income; however, we do not find any strong correlation between globalization and the labor income share at the firm level.
Relative Income Shares
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Author : John Edward King
language : en
Publisher:
Release Date : 1976
Relative Income Shares written by John Edward King and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1976 with Income distribution categories.
Provides an introductory examination to current theories and empirical evidence concerning the distribution of national income between labour and property.