The labor share puzzle: Empirical evidence for European countries

被引：3
|
作者：
Bellocchi, Alessandro [1 ,2 ]
Marin, Giovanni [1 ,2 ]
Travaglini, Giuseppe [1 ]
机构：
[1] Univ Urbino Carlo Bo, Dept Econ Soc & Polit DESP, Via Aurelio Saffi 42, I-61029 Urbino, Italy
[2] SEEDS, Vittoria, Italy
来源：
ECONOMIC MODELLING | 2023年 / 124卷
关键词：
Labor share; Firm-level analysis; Capital-output ratios; Technological change; Markups; SUBSTITUTION ELASTICITY; DECLINE; FIRM; RISE; DETERMINANTS; TECHNOLOGY; EMPLOYMENT; DYNAMICS; LESSONS; STATES;
D O I：
10.1016/j.econmod.2023.106327
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Changes in labor share are documented in the literature, but its micro-sources remain unclear. At the macro level, the labor share is related to the capital-output ratio. Firm level evidence is scarce although very informative. In this paper we use microdata from European firms to study changes in labor share in 19 EU industries, over the period 2011-2019. Our results confirm that changes in firms' labor shares are related to these factors and that its decline has been accompanied by a reduction in capital accumulation, technological change and increasing markups. Further, we find heterogeneity among firms and show that the relationship between the labor share and the capital-output ratio is significantly nonlinear in many industries.
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收藏
页数：17
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