Labor share and growth in the long run

Bridji, Slim (Haute école de travail social HETS Genève, HES-SO) ; Charpe, Matthieu (International Labour Organization) ; McAdam, Peter (European Central Bank)

This paper establishes some stylized facts of the long-run relationship between growth and labor shares using historical data for the USA (1898–2010), the United Kingdom (1856–2010), and France (1896–2010). Performing individual country time–frequency analysis, we demonstrate the existence of long-term cycles in labor share of 30–50 years explaining a major part of the variance in the data. Further, the impact of labor share on growth changes sign with the frequency considered from negative at high frequencies to positive at low frequencies. Finally, the positive coefficient associated with the labor share at low frequencies increases over time.


Keywords:
Article Type:
scientifique
Faculty:
Travail social
Branch:
Travail social
School:
HETS - Genève
Institute:
CERES - Centre de recherche sociale
Subject(s):
Travail social
Date:
2019-03
Pagination:
38 p.
Published in:
Macroeconomic Dynamics
Numeration (vol. no.):
2019, no. 2251, pp. 1-38
DOI:
ISSN:
1365-1005
External resources:
Appears in Collection:



 Record created 2020-04-14, last modified 2020-04-27

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