Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence /:
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 vary...
Gespeichert in:
| Hauptverfasser: | , , , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
|
| Schriftenreihe: | IMF working paper ;
WP/17/169. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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. |
| Beschreibung: | "July 2017." |
| Beschreibung: | 1 online resource (71 pages) |
| ISBN: | 1484313097 1484311043 9781484311042 9781484313091 |
Internformat
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| 100 | 1 | |a Dao, Mai Chi, |e author. | |
| 245 | 1 | 0 | |a Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / |c by Mai Chi Dao, Mitali Das, Zsoka Koczan, Weicheng Lian. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2017] | |
| 264 | 4 | |c ©2017 | |
| 300 | |a 1 online resource (71 pages) | ||
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| 500 | |a "July 2017." | ||
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover; Contents; Abstract; I. Introduction; II. Trends in the Labor Share of Income: Key Facts; III. Drivers of the Labor Share of Income: Key Concepts and Mechanisms; IV. Analyzing Trends in the Labor Share of Income: Empirical Analysis; A. Shift-Share Analysis; B. Analysis of Long-Term Changes in the Aggregate Labor Share of Income; C. Robustness of Aggregate-Level Regression Results; D. Analysis of Long-Term Changes in Sectoral Labor Shares; E. Analysis of Long-Term Changes in Labor Shares by Skill; V. Summary and Policy Implications; Annex; Annex 1. Wages and Deflators. | |
| 505 | 8 | |a Annex 2. A Theoretical Model of Relative Cost of Capital, Offshoring, and Labor Shares of Income in Advanced Economies and Emerging Market and Developing EconomiesAnnex 3. Country Coverage and Data; Annex 4. Tables; Annex 5. Appendix figures; References; Figures; 1. Evolution of the Labor Share of Income; 2. Labor Shares and Income Inequality; 3. Distribution of Estimated Trends in Labor Shares, 1991-2014; 4. Estimated Trends in Labor Shares by Country and Sector; 5. Labor Share Evolutions and Labor Force Composition by Skill Level; 6. Trends in Potential Drivers of Labor Shares. | |
| 505 | 8 | |a 7. Change in the Relative Price of Investment and Capital Intensity8. Changes in Global Value Chain Participation and Capital Intensity; 9. Evolution of the Adjusted Labor Share of Income; 10. Shift-Share Analysis; 11 Aggregate Results; 12. Heterogeneity across Sectors and Countries; 13. Sectoral Results, Advanced Economies; 14. Contributions to Aggregate Labor Share Change by Skill, 1995-2009; 15. Decomposition of the Labor Share of Income, 1991-2014; 16. Product Wages, Consumption Wages, and Productivity in Manufacturing. | |
| 505 | 8 | |a 17. Impact of the Costs of Capital and Offshoring on the Set of Tasks Offshored from a High-Wage County to a Low-Wage CountyAppendices; 1. Estimated Trends in Labor Shares across the World; 2. Heterogeneity in the Evolution of Key Drivers of the Labor Share; Tables; 1. Country Coverage; 2. Data Sources; 3. Baseline Aggregate Results; 4. Stacked Aggregate Results; 5. Aggregate Results, Robustness (User Cost); 6. Aggregate Results, Robustness (Alternative Measure of Offshoring); 7. Aggregate Results, Robustness (Other Robustness Checks); 8. Aggregate Results, Robustness (Measurement Issues). | |
| 505 | 8 | |a 9. Baseline Sectoral Results10. Aggregate Results by Skill Level; 11. Sectoral Results by Skill Level; 12. Sectoral Results by Skill Level, Controlling for Skill Compensation; 13. Sectoral Results by Skill Level, Controlling for Policy Institution Variables. | |
| 520 | 3 | |a 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. | |
| 650 | 0 | |a Income distribution. |0 http://id.loc.gov/authorities/subjects/sh85064765 | |
| 650 | 6 | |a Revenu |x Répartition. | |
| 650 | 7 | |a Income distribution |2 fast | |
| 650 | 7 | |a Developed Countries. |2 imf | |
| 650 | 7 | |a Automation. |2 imf | |
| 650 | 7 | |a All Countries. |2 imf | |
| 650 | 7 | |a Aggregate Factor Income Distribution. |2 imf | |
| 700 | 1 | |a Das, Mitali, |e author. | |
| 700 | 1 | |a Koczan, Zsoka, |e author. | |
| 700 | 1 | |a Lian, Weicheng, |e author. | |
| 758 | |i has work: |a Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGW7tXpjPxHK7vVVVddqQq |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Dao, Mai Chi. |t Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence. |d Washington, D.C. : International Monetary Fund, ©2017 |z 9781484311042 |
| 830 | 0 | |a IMF working paper ; |v WP/17/169. |0 http://id.loc.gov/authorities/names/no89010263 | |
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| author | Dao, Mai Chi Das, Mitali Koczan, Zsoka Lian, Weicheng |
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| contents | Cover; Contents; Abstract; I. Introduction; II. Trends in the Labor Share of Income: Key Facts; III. Drivers of the Labor Share of Income: Key Concepts and Mechanisms; IV. Analyzing Trends in the Labor Share of Income: Empirical Analysis; A. Shift-Share Analysis; B. Analysis of Long-Term Changes in the Aggregate Labor Share of Income; C. Robustness of Aggregate-Level Regression Results; D. Analysis of Long-Term Changes in Sectoral Labor Shares; E. Analysis of Long-Term Changes in Labor Shares by Skill; V. Summary and Policy Implications; Annex; Annex 1. Wages and Deflators. Annex 2. A Theoretical Model of Relative Cost of Capital, Offshoring, and Labor Shares of Income in Advanced Economies and Emerging Market and Developing EconomiesAnnex 3. Country Coverage and Data; Annex 4. Tables; Annex 5. Appendix figures; References; Figures; 1. Evolution of the Labor Share of Income; 2. Labor Shares and Income Inequality; 3. Distribution of Estimated Trends in Labor Shares, 1991-2014; 4. Estimated Trends in Labor Shares by Country and Sector; 5. Labor Share Evolutions and Labor Force Composition by Skill Level; 6. Trends in Potential Drivers of Labor Shares. 7. Change in the Relative Price of Investment and Capital Intensity8. Changes in Global Value Chain Participation and Capital Intensity; 9. Evolution of the Adjusted Labor Share of Income; 10. Shift-Share Analysis; 11 Aggregate Results; 12. Heterogeneity across Sectors and Countries; 13. Sectoral Results, Advanced Economies; 14. Contributions to Aggregate Labor Share Change by Skill, 1995-2009; 15. Decomposition of the Labor Share of Income, 1991-2014; 16. Product Wages, Consumption Wages, and Productivity in Manufacturing. 17. Impact of the Costs of Capital and Offshoring on the Set of Tasks Offshored from a High-Wage County to a Low-Wage CountyAppendices; 1. Estimated Trends in Labor Shares across the World; 2. Heterogeneity in the Evolution of Key Drivers of the Labor Share; Tables; 1. Country Coverage; 2. Data Sources; 3. Baseline Aggregate Results; 4. Stacked Aggregate Results; 5. Aggregate Results, Robustness (User Cost); 6. Aggregate Results, Robustness (Alternative Measure of Offshoring); 7. Aggregate Results, Robustness (Other Robustness Checks); 8. Aggregate Results, Robustness (Measurement Issues). 9. Baseline Sectoral Results10. Aggregate Results by Skill Level; 11. Sectoral Results by Skill Level; 12. Sectoral Results by Skill Level, Controlling for Skill Compensation; 13. Sectoral Results by Skill Level, Controlling for Policy Institution Variables. |
| ctrlnum | (OCoLC)1001384631 |
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| dewey-ones | 339 - Macroeconomics and related topics |
| dewey-raw | 339.2 |
| dewey-search | 339.2 |
| dewey-sort | 3339.2 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | ZDB-4-EBA-on1001384631 |
| illustrated | Not Illustrated |
| indexdate | 2024-11-27T13:27:58Z |
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| isbn | 1484313097 1484311043 9781484311042 9781484313091 |
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| series | IMF working paper ; |
| series2 | IMF Working Paper ; |
| spelling | Dao, Mai Chi, author. Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / by Mai Chi Dao, Mitali Das, Zsoka Koczan, Weicheng Lian. [Washington, D.C.] : International Monetary Fund, [2017] ©2017 1 online resource (71 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier data file IMF Working Paper ; WP/17/169 "July 2017." Print version record. Cover; Contents; Abstract; I. Introduction; II. Trends in the Labor Share of Income: Key Facts; III. Drivers of the Labor Share of Income: Key Concepts and Mechanisms; IV. Analyzing Trends in the Labor Share of Income: Empirical Analysis; A. Shift-Share Analysis; B. Analysis of Long-Term Changes in the Aggregate Labor Share of Income; C. Robustness of Aggregate-Level Regression Results; D. Analysis of Long-Term Changes in Sectoral Labor Shares; E. Analysis of Long-Term Changes in Labor Shares by Skill; V. Summary and Policy Implications; Annex; Annex 1. Wages and Deflators. Annex 2. A Theoretical Model of Relative Cost of Capital, Offshoring, and Labor Shares of Income in Advanced Economies and Emerging Market and Developing EconomiesAnnex 3. Country Coverage and Data; Annex 4. Tables; Annex 5. Appendix figures; References; Figures; 1. Evolution of the Labor Share of Income; 2. Labor Shares and Income Inequality; 3. Distribution of Estimated Trends in Labor Shares, 1991-2014; 4. Estimated Trends in Labor Shares by Country and Sector; 5. Labor Share Evolutions and Labor Force Composition by Skill Level; 6. Trends in Potential Drivers of Labor Shares. 7. Change in the Relative Price of Investment and Capital Intensity8. Changes in Global Value Chain Participation and Capital Intensity; 9. Evolution of the Adjusted Labor Share of Income; 10. Shift-Share Analysis; 11 Aggregate Results; 12. Heterogeneity across Sectors and Countries; 13. Sectoral Results, Advanced Economies; 14. Contributions to Aggregate Labor Share Change by Skill, 1995-2009; 15. Decomposition of the Labor Share of Income, 1991-2014; 16. Product Wages, Consumption Wages, and Productivity in Manufacturing. 17. Impact of the Costs of Capital and Offshoring on the Set of Tasks Offshored from a High-Wage County to a Low-Wage CountyAppendices; 1. Estimated Trends in Labor Shares across the World; 2. Heterogeneity in the Evolution of Key Drivers of the Labor Share; Tables; 1. Country Coverage; 2. Data Sources; 3. Baseline Aggregate Results; 4. Stacked Aggregate Results; 5. Aggregate Results, Robustness (User Cost); 6. Aggregate Results, Robustness (Alternative Measure of Offshoring); 7. Aggregate Results, Robustness (Other Robustness Checks); 8. Aggregate Results, Robustness (Measurement Issues). 9. Baseline Sectoral Results10. Aggregate Results by Skill Level; 11. Sectoral Results by Skill Level; 12. Sectoral Results by Skill Level, Controlling for Skill Compensation; 13. Sectoral Results by Skill Level, Controlling for Policy Institution Variables. 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. Income distribution. http://id.loc.gov/authorities/subjects/sh85064765 Revenu Répartition. Income distribution fast Developed Countries. imf Automation. imf All Countries. imf Aggregate Factor Income Distribution. imf Das, Mitali, author. Koczan, Zsoka, author. Lian, Weicheng, author. has work: Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence (Text) https://id.oclc.org/worldcat/entity/E39PCGW7tXpjPxHK7vVVVddqQq https://id.oclc.org/worldcat/ontology/hasWork Print version: Dao, Mai Chi. Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence. Washington, D.C. : International Monetary Fund, ©2017 9781484311042 IMF working paper ; WP/17/169. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1577275 Volltext |
| spellingShingle | Dao, Mai Chi Das, Mitali Koczan, Zsoka Lian, Weicheng Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / IMF working paper ; Cover; Contents; Abstract; I. Introduction; II. Trends in the Labor Share of Income: Key Facts; III. Drivers of the Labor Share of Income: Key Concepts and Mechanisms; IV. Analyzing Trends in the Labor Share of Income: Empirical Analysis; A. Shift-Share Analysis; B. Analysis of Long-Term Changes in the Aggregate Labor Share of Income; C. Robustness of Aggregate-Level Regression Results; D. Analysis of Long-Term Changes in Sectoral Labor Shares; E. Analysis of Long-Term Changes in Labor Shares by Skill; V. Summary and Policy Implications; Annex; Annex 1. Wages and Deflators. Annex 2. A Theoretical Model of Relative Cost of Capital, Offshoring, and Labor Shares of Income in Advanced Economies and Emerging Market and Developing EconomiesAnnex 3. Country Coverage and Data; Annex 4. Tables; Annex 5. Appendix figures; References; Figures; 1. Evolution of the Labor Share of Income; 2. Labor Shares and Income Inequality; 3. Distribution of Estimated Trends in Labor Shares, 1991-2014; 4. Estimated Trends in Labor Shares by Country and Sector; 5. Labor Share Evolutions and Labor Force Composition by Skill Level; 6. Trends in Potential Drivers of Labor Shares. 7. Change in the Relative Price of Investment and Capital Intensity8. Changes in Global Value Chain Participation and Capital Intensity; 9. Evolution of the Adjusted Labor Share of Income; 10. Shift-Share Analysis; 11 Aggregate Results; 12. Heterogeneity across Sectors and Countries; 13. Sectoral Results, Advanced Economies; 14. Contributions to Aggregate Labor Share Change by Skill, 1995-2009; 15. Decomposition of the Labor Share of Income, 1991-2014; 16. Product Wages, Consumption Wages, and Productivity in Manufacturing. 17. Impact of the Costs of Capital and Offshoring on the Set of Tasks Offshored from a High-Wage County to a Low-Wage CountyAppendices; 1. Estimated Trends in Labor Shares across the World; 2. Heterogeneity in the Evolution of Key Drivers of the Labor Share; Tables; 1. Country Coverage; 2. Data Sources; 3. Baseline Aggregate Results; 4. Stacked Aggregate Results; 5. Aggregate Results, Robustness (User Cost); 6. Aggregate Results, Robustness (Alternative Measure of Offshoring); 7. Aggregate Results, Robustness (Other Robustness Checks); 8. Aggregate Results, Robustness (Measurement Issues). 9. Baseline Sectoral Results10. Aggregate Results by Skill Level; 11. Sectoral Results by Skill Level; 12. Sectoral Results by Skill Level, Controlling for Skill Compensation; 13. Sectoral Results by Skill Level, Controlling for Policy Institution Variables. Income distribution. http://id.loc.gov/authorities/subjects/sh85064765 Revenu Répartition. Income distribution fast Developed Countries. imf Automation. imf All Countries. imf Aggregate Factor Income Distribution. imf |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85064765 |
| title | Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / |
| title_auth | Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / |
| title_exact_search | Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / |
| title_full | Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / by Mai Chi Dao, Mitali Das, Zsoka Koczan, Weicheng Lian. |
| title_fullStr | Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / by Mai Chi Dao, Mitali Das, Zsoka Koczan, Weicheng Lian. |
| title_full_unstemmed | Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / by Mai Chi Dao, Mitali Das, Zsoka Koczan, Weicheng Lian. |
| title_short | Why Is Labor Receiving a Smaller Share of Global Income? Theory and Empirical Evidence / |
| title_sort | why is labor receiving a smaller share of global income theory and empirical evidence |
| topic | Income distribution. http://id.loc.gov/authorities/subjects/sh85064765 Revenu Répartition. Income distribution fast Developed Countries. imf Automation. imf All Countries. imf Aggregate Factor Income Distribution. imf |
| topic_facet | Income distribution. Revenu Répartition. Income distribution Developed Countries. Automation. All Countries. Aggregate Factor Income Distribution. |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1577275 |
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