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The B.E. Journal of Macroeconomics

Editor-in-Chief: Cavalcanti, Tiago / Kambourov, Gueorgui

Ed. by Abraham, Arpad / Carceles-Poveda , Eva / Debortoli, Davide / Schwartzman, Felipe / Wang, Pengfei

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Explaining Movements in the Labor Share

Samuel Bentolila / Gilles Saint-Paul
Published Online: 2003-10-03 | DOI: https://doi.org/10.2202/1534-6005.1103

In this paper we study the evolution of the labor share in the OECD. We show it is essentially related to the capital-output ratio; that this relationship is shifted by factors like the price of imported materials or capital-augmenting technological progress; and that discrepancies between the marginal product of labor and the real wage ---due to, e.g., labor adjustment costs or union wage bargaining--- cause departures from it. We also provide empirical evidence on the determinants of the labor share with panel data on 13 industries and 12 countries for 1972-93.

Keywords: Labor share; capital-output ratio

About the article

Published Online: 2003-10-03

Citation Information: Contributions in Macroeconomics, Volume 3, Issue 1, ISSN (Online) 1534-6005, DOI: https://doi.org/10.2202/1534-6005.1103.

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