What Explains the Decline of the U.S. Labor Share of Income? :: An Analysis of State and Industry Level Data.
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...
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| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
|
| Schriftenreihe: | IMF working paper ;
WP/17/167. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | 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. |
| Beschreibung: | 1 online resource (27 pages) |
| ISBN: | 1484312996 1484311000 9781484311004 9781484312995 |
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| 245 | 1 | 0 | |a What Explains the Decline of the U.S. Labor Share of Income? : |b An Analysis of State and Industry Level Data. |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c [2017] | |
| 264 | 4 | |c ©2017 | |
| 300 | |a 1 online resource (27 pages) | ||
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| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover; Table of Contents; Abstract; I. Introduction; II. Concepts and Measurement; A. Technology: Routinizability of Occupations; B. International Factors; C. Institutional Factors: Unionization; III. Key Drivers: Data; IV. Empirical Results; A. Shift-Share Analysis; B. Econometric Analysis; C. Robustness Checks; V. Conclusion and Policy Implications; References; Figures; 1. Labor Share: Overall and Corporate Sector; 2. Labor Share by State: Change 2001-2001; 3. Labor Share by Industry: Median Change Across States; 4. U.S. Labor Share and Income Inequality: 1967-2015. | |
| 505 | 8 | |a 5. Labor Share Drivers by Industry: Median Across States6. Labor Share Decline: Shift-Share, 2001-14; 7. Within Labor Share Decline: Contributions-Baseline; 8. Within Labor Share Decline: Contributions I; 9. Within Labor Share Decline: Contributions II; 10. Within Labor Share Decline: Contributions III; Tables; 1. NAICS Industry Codes; 2. Modeling the Change in Routinization and Offshorability, 2001-14; 3. Modeling the Change in the Labor Share; 4. Modeling the Change in the Labor Share: Robustness Checks I; 5. Modeling the Change in the Labor Share: Robustness Checks II. | |
| 505 | 8 | |a 6. Modeling the Change in the Labor Share: Robustness Checks IIIAppendix; I. Variable Construction. | |
| 520 | 3 | |a 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. | |
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| 776 | 0 | 8 | |i Print version: |a Abdih, Yasser. |t What Explains the Decline of the U.S. Labor Share of Income? An Analysis of State and Industry Level Data. |d Washington, D.C. : International Monetary Fund, ©2017 |z 9781484311004 |
| 830 | 0 | |a IMF working paper ; |v WP/17/167. |0 http://id.loc.gov/authorities/names/no89010263 | |
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| author | Abdih, Y. (Yasser) Danninger, Stephan |
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| contents | Cover; Table of Contents; Abstract; I. Introduction; II. Concepts and Measurement; A. Technology: Routinizability of Occupations; B. International Factors; C. Institutional Factors: Unionization; III. Key Drivers: Data; IV. Empirical Results; A. Shift-Share Analysis; B. Econometric Analysis; C. Robustness Checks; V. Conclusion and Policy Implications; References; Figures; 1. Labor Share: Overall and Corporate Sector; 2. Labor Share by State: Change 2001-2001; 3. Labor Share by Industry: Median Change Across States; 4. U.S. Labor Share and Income Inequality: 1967-2015. 5. Labor Share Drivers by Industry: Median Across States6. Labor Share Decline: Shift-Share, 2001-14; 7. Within Labor Share Decline: Contributions-Baseline; 8. Within Labor Share Decline: Contributions I; 9. Within Labor Share Decline: Contributions II; 10. Within Labor Share Decline: Contributions III; Tables; 1. NAICS Industry Codes; 2. Modeling the Change in Routinization and Offshorability, 2001-14; 3. Modeling the Change in the Labor Share; 4. Modeling the Change in the Labor Share: Robustness Checks I; 5. Modeling the Change in the Labor Share: Robustness Checks II. 6. Modeling the Change in the Labor Share: Robustness Checks IIIAppendix; I. Variable Construction. |
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| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| series2 | IMF Working Paper ; |
| spelling | Abdih, Y. (Yasser), author. https://id.oclc.org/worldcat/entity/E39PCjB64KYhwYxQRctG4TkkXd http://id.loc.gov/authorities/names/no2005036583 What Explains the Decline of the U.S. Labor Share of Income? : An Analysis of State and Industry Level Data. [Washington, D.C.] : International Monetary Fund, [2017] ©2017 1 online resource (27 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier data file rda IMF Working Paper ; WP/17/167 Print version record. Cover; Table of Contents; Abstract; I. Introduction; II. Concepts and Measurement; A. Technology: Routinizability of Occupations; B. International Factors; C. Institutional Factors: Unionization; III. Key Drivers: Data; IV. Empirical Results; A. Shift-Share Analysis; B. Econometric Analysis; C. Robustness Checks; V. Conclusion and Policy Implications; References; Figures; 1. Labor Share: Overall and Corporate Sector; 2. Labor Share by State: Change 2001-2001; 3. Labor Share by Industry: Median Change Across States; 4. U.S. Labor Share and Income Inequality: 1967-2015. 5. Labor Share Drivers by Industry: Median Across States6. Labor Share Decline: Shift-Share, 2001-14; 7. Within Labor Share Decline: Contributions-Baseline; 8. Within Labor Share Decline: Contributions I; 9. Within Labor Share Decline: Contributions II; 10. Within Labor Share Decline: Contributions III; Tables; 1. NAICS Industry Codes; 2. Modeling the Change in Routinization and Offshorability, 2001-14; 3. Modeling the Change in the Labor Share; 4. Modeling the Change in the Labor Share: Robustness Checks I; 5. Modeling the Change in the Labor Share: Robustness Checks II. 6. Modeling the Change in the Labor Share: Robustness Checks IIIAppendix; I. Variable Construction. 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 United States. Income distribution United States. Travail États-Unis. Revenu Répartition États-Unis. Income distribution fast Labor fast United States fast https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq Danninger, Stephan, author. http://id.loc.gov/authorities/names/no00002526 has work: What Explains the Decline of the U.S. Labor Share of Income? (Text) https://id.oclc.org/worldcat/entity/E39PCFByPRFfbVvCCrxDyqG9rC https://id.oclc.org/worldcat/ontology/hasWork Print version: Abdih, Yasser. What Explains the Decline of the U.S. Labor Share of Income? An Analysis of State and Industry Level Data. Washington, D.C. : International Monetary Fund, ©2017 9781484311004 IMF working paper ; WP/17/167. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1577270 Volltext |
| spellingShingle | Abdih, Y. (Yasser) Danninger, Stephan What Explains the Decline of the U.S. Labor Share of Income? : An Analysis of State and Industry Level Data. IMF working paper ; Cover; Table of Contents; Abstract; I. Introduction; II. Concepts and Measurement; A. Technology: Routinizability of Occupations; B. International Factors; C. Institutional Factors: Unionization; III. Key Drivers: Data; IV. Empirical Results; A. Shift-Share Analysis; B. Econometric Analysis; C. Robustness Checks; V. Conclusion and Policy Implications; References; Figures; 1. Labor Share: Overall and Corporate Sector; 2. Labor Share by State: Change 2001-2001; 3. Labor Share by Industry: Median Change Across States; 4. U.S. Labor Share and Income Inequality: 1967-2015. 5. Labor Share Drivers by Industry: Median Across States6. Labor Share Decline: Shift-Share, 2001-14; 7. Within Labor Share Decline: Contributions-Baseline; 8. Within Labor Share Decline: Contributions I; 9. Within Labor Share Decline: Contributions II; 10. Within Labor Share Decline: Contributions III; Tables; 1. NAICS Industry Codes; 2. Modeling the Change in Routinization and Offshorability, 2001-14; 3. Modeling the Change in the Labor Share; 4. Modeling the Change in the Labor Share: Robustness Checks I; 5. Modeling the Change in the Labor Share: Robustness Checks II. 6. Modeling the Change in the Labor Share: Robustness Checks IIIAppendix; I. Variable Construction. Labor United States. Income distribution United States. Travail États-Unis. Revenu Répartition États-Unis. Income distribution fast Labor fast |
| title | What Explains the Decline of the U.S. Labor Share of Income? : An Analysis of State and Industry Level Data. |
| title_auth | What Explains the Decline of the U.S. Labor Share of Income? : An Analysis of State and Industry Level Data. |
| title_exact_search | What Explains the Decline of the U.S. Labor Share of Income? : An Analysis of State and Industry Level Data. |
| title_full | What Explains the Decline of the U.S. Labor Share of Income? : An Analysis of State and Industry Level Data. |
| title_fullStr | What Explains the Decline of the U.S. Labor Share of Income? : An Analysis of State and Industry Level Data. |
| title_full_unstemmed | What Explains the Decline of the U.S. Labor Share of Income? : An Analysis of State and Industry Level Data. |
| title_short | What Explains the Decline of the U.S. Labor Share of Income? : |
| title_sort | what explains the decline of the u s labor share of income an analysis of state and industry level data |
| title_sub | An Analysis of State and Industry Level Data. |
| topic | Labor United States. Income distribution United States. Travail États-Unis. Revenu Répartition États-Unis. Income distribution fast Labor fast |
| topic_facet | Labor United States. Income distribution United States. Travail États-Unis. Revenu Répartition États-Unis. Income distribution Labor United States |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1577270 |
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