Decoupling of wages from productivity: Macro-level facts = Découplage des salaires et de la productivité
Over the past two decades, aggregate labour productivity growth in most OECD countries has decoupled from real median compensation growth, implying that raising productivity is no longer sufficient to raise real wages for the typical worker. This paper provides a quantitative description of decoupli...
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| Main Author: | |
|---|---|
| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2017
|
| Series: | OECD Economics Department Working Papers
no.1373 |
| Subjects: | |
| Online Access: | DE-862 DE-863 |
| Summary: | Over the past two decades, aggregate labour productivity growth in most OECD countries has decoupled from real median compensation growth, implying that raising productivity is no longer sufficient to raise real wages for the typical worker. This paper provides a quantitative description of decoupling in OECD countries over the past two decades, with the results suggesting that it is explained by declines in both labour shares and the ratio of median to average wages (a partial measure of wage inequality). Labour shares have declined in about two thirds of the OECD countries covered by the analysis. However, the contribution of labour shares to decoupling is smaller if sectors are excluded for which labour shares are driven by changes in commodity and asset prices or for which labour shares are driven by imputation choices (primary, housing and non-market sectors). The ratio of median to average wages has declined in all but two of the OECD countries covered by the analysis and appears to reflect disproportionate wage growth at the very top of the wage distribution rather than stagnating median wages. The causes for these developments will be analysed in follow-up research. |
| Physical Description: | 1 Online-Ressource (27 Seiten) |
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| spelling | Schwellnus, Cyrille VerfasserIn aut Decoupling of wages from productivity Macro-level facts = Découplage des salaires et de la productivité Cyrille, Schwellnus, Andreas, Kappeler and Pierre-Alain, Pionnier Découplage des salaires et de la productivité Paris OECD Publishing 2017 1 Online-Ressource (27 Seiten) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.1373 Over the past two decades, aggregate labour productivity growth in most OECD countries has decoupled from real median compensation growth, implying that raising productivity is no longer sufficient to raise real wages for the typical worker. This paper provides a quantitative description of decoupling in OECD countries over the past two decades, with the results suggesting that it is explained by declines in both labour shares and the ratio of median to average wages (a partial measure of wage inequality). Labour shares have declined in about two thirds of the OECD countries covered by the analysis. However, the contribution of labour shares to decoupling is smaller if sectors are excluded for which labour shares are driven by changes in commodity and asset prices or for which labour shares are driven by imputation choices (primary, housing and non-market sectors). The ratio of median to average wages has declined in all but two of the OECD countries covered by the analysis and appears to reflect disproportionate wage growth at the very top of the wage distribution rather than stagnating median wages. The causes for these developments will be analysed in follow-up research. Employment Economics Kappeler, Andreas MitwirkendeR ctb Pionnier, Pierre-Alain MitwirkendeR ctb |
| spellingShingle | Schwellnus, Cyrille Decoupling of wages from productivity Macro-level facts = Découplage des salaires et de la productivité Employment Economics |
| title | Decoupling of wages from productivity Macro-level facts = Découplage des salaires et de la productivité |
| title_alt | Découplage des salaires et de la productivité |
| title_auth | Decoupling of wages from productivity Macro-level facts = Découplage des salaires et de la productivité |
| title_exact_search | Decoupling of wages from productivity Macro-level facts = Découplage des salaires et de la productivité |
| title_full | Decoupling of wages from productivity Macro-level facts = Découplage des salaires et de la productivité Cyrille, Schwellnus, Andreas, Kappeler and Pierre-Alain, Pionnier |
| title_fullStr | Decoupling of wages from productivity Macro-level facts = Découplage des salaires et de la productivité Cyrille, Schwellnus, Andreas, Kappeler and Pierre-Alain, Pionnier |
| title_full_unstemmed | Decoupling of wages from productivity Macro-level facts = Découplage des salaires et de la productivité Cyrille, Schwellnus, Andreas, Kappeler and Pierre-Alain, Pionnier |
| title_short | Decoupling of wages from productivity |
| title_sort | decoupling of wages from productivity macro level facts decouplage des salaires et de la productivite |
| title_sub | Macro-level facts = Découplage des salaires et de la productivité |
| topic | Employment Economics |
| topic_facet | Employment Economics |
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