Capital Heterogeneity and the Decline of the Labour Share
Datos Bibliográficos
| ID | 9726207 |
|---|---|
| Autores | Mary O’Mahony (0000-0002-0601-3991, King's College London and ESCoE), Michela Vecchi (0000-0002-0129-6769, Middlesex Business School and NIESR), Francesco Venturini (0000-0002-7295-268X, University of Perugia and NIESR) |
| Año | 2021 |
| Volumen | 88 |
| Número | 350 |
| Páginas | 271-296 |
| Fecha de publicación | 2021-04-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | Economica (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Editorial | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ecca.12356 |
| OpenAlex | W3108645300 |
| Idioma | EN |
| Citas recibidas | 2 |
| Referencias citadas | 66 |
We investigate the decline of the labour share in a world characterized by increasing heterogeneity of capital assets. Our results show that over the 1970–2007 period, the decline of the labour share has been driven mainly by Information and Communication Technology assets and is mitigated by increasing investments in R&D‐based knowledge assets. Extending to other forms of intangible capital from 1995 onwards, we find that intangible investments related to innovation increase the labour share while those related to the organization of firms contribute to its decline, particularly for low‐ and intermediate‐skilled workers. Our results are robust to an array of econometric issues, namely heterogeneity, cross‐sectional dependence and endogeneity
Business · Capital (architecture) · Demographic economics · Econometrics · Economics · Endogeneity · Human capital · Labour economics · Market economy · Monetary economics · Wage share · Economic Growth and Productivity · Firm Innovation and Growth · Innovation Policy and RD
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Intangible Capital and u.s. Economic Growth
Robots and Jobs
An Autoregressive Distributed-Lag Modelling Approach to Cointegration Analysis
Weak and strong cross‐section dependence and estimation of large panels
Public debt and growth
The Global Decline of the Labor Share
The Decline of the U.S. Labor Share
New Simple Tests for Panel Cointegration
Information Technology, Workplace Organization, and the Demand for Skilled Labor
The Fall of the Labor Share and the Rise of Superstar Firms
The Race between Man and Machine
Concentrating on the Fall of the Labor Share
Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets
Has ICT Polarized Skill Demand? Evidence from Eleven Countries over Twenty-Five Years
How to Compete
Do Spillovers Matter When Estimating Private Returns to R&D
The Innovation Premium to Soft Skills in Low-Skilled Occupations
Innovation and Top Income Inequality
Capital is Back
Globalization and U.S. Wages
Capital Deepening and Nonbalanced Economic Growth
Robots and Jobs
Labor as a Quasi-Fixed Factor
Labour Market Institutions and the Personal Distribution of Income in the OECD
The Decline in Capital Efficiency and Labour Share
Excess Labour and the Business Cycle
Privatization and the Decline of Labour's Share
Increasing Returns, Labour Utilization and Externalities
Wealth Inequality in the Long Run
Employment Effects of Product and Labour Market Reforms
Output, Input and Productivity Measures at the Industry Level
A Contribution to the Empirics of Economic Growth
| Obras citantes distintas | 2 |
|---|---|
| Citas por año | 0,67 |
| Intervalo de citas | 2023 - 2025 (3) |
| Velocidad de citación | recent |
| Altamente citado | No |
| Tipos de cita | Neutras: 2 |