Capital's Grabbing Hand? A Cross-Country/Cross-Industry Analysis of the Decline of the Labour Share:

We examine the determinants of the within-industry decline of the labour share, using industry-level annual data for 25 OECD countries, 20 business-sector industries and covering up to 28 years. We find that total factor productivity growth - which captures (albeit imprecisely) capital-augmenting or...

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1. Verfasser: Bassanini, Andrea (VerfasserIn)
Weitere Verfasser: Manfredi, Thomas (MitwirkendeR)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Paris OECD Publishing 2012
Schriftenreihe:OECD Social, Employment and Migration Working Papers
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Zusammenfassung:We examine the determinants of the within-industry decline of the labour share, using industry-level annual data for 25 OECD countries, 20 business-sector industries and covering up to 28 years. We find that total factor productivity growth - which captures (albeit imprecisely) capital-augmenting or labour-replacing technical change - and capital deepening jointly account for as much as 80% of the within-industry contraction of the labour share. We also find that other important factors are privatisation of state-owned enterprises and the increase in international competition as well as off-shoring of intermediate stages of the production process. By contrast, we are unable to detect any effect from increases in domestic competition brought about by entry deregulation
Beschreibung:1 Online-Ressource (42 Seiten) 21 x 29.7cm
DOI:10.1787/5k95zqsf4bxt-en

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