Globalisation, concentration and footloose firms: in search of the main cause of the declining labour share

被引:0
作者
John Hutchinson
Damiaan Persyn
机构
[1] European Central Bank,VIVES and LICOS, Faculty of Business and Economics
[2] Catholic University of Leuven,undefined
来源
Review of World Economics | 2012年 / 148卷
关键词
Labour share; Trade liberalisation; European integration; Technological change; Industry structure; E25; J30; F16; F40;
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中图分类号
学科分类号
摘要
Over the last two decades the share of national income which accrues to labour has followed a marked downward trend across a host of industrialised countries. This paper reassesses the relative importance of several potential causes of this phenomenon. Overall, the findings suggest that lower trade costs and factors often associated with economic integration such as international low-wage competition and industry concentration have contributed to the decline in the labour share. However, their effects have been limited when compared to the effects of skill-based technological change and cyclical price changes of intermediary goods.
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页码:17 / 43
页数:26
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