THE U.S. LABOR INCOME SHARE AND AUTOMATION SHOCKS.
The causes and consequences of the 1964–2016 swings in the U.S. labor income share/labor share (LS) are parsed through the lens of a structural model estimated on aggregate and LS series jointly. Where conventional models fall short, the present model yields a counter‐cyclical LS unconditionally and...
| Publicado en: | Economic Inquiry Vol. 58; no. 1; pp. 294 - 319 |
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| Formato: | Artículo |
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Wiley-Blackwell
Jan2020
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=139644610&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 139644610 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: Y pubinfo: dt: Jan2020 vid: 58 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 139644610 10.1111/ecin.12829 ppf: 294 ppct: 25 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 668KB tig: atl: THE U.S. LABOR INCOME SHARE AND AUTOMATION SHOCKS. aug: au: Charalampidis, Nikolaos affil: Department of Economics, Université Laval, Quebec G1V 0A6, Canada su: Wages Monetary policy Automation Economic shock Social security individual investment accounts sug: subj: Wages Monetary policy Automation Economic shock Social security individual investment accounts ab: The causes and consequences of the 1964–2016 swings in the U.S. labor income share/labor share (LS) are parsed through the lens of a structural model estimated on aggregate and LS series jointly. Where conventional models fall short, the present model yields a counter‐cyclical LS unconditionally and in response to demand and monetary policy shocks, as well as a small wage pro‐cyclicality, via moderate wage indexation. Shifts in automation, workers' market power, investment efficiency, and the relative price of investment account for 54%, 24%, 6%, and 4% of LS fluctuations, respectively. Automation shocks explain the lion's share of the post‐2007 cyclical LS tumble and 11% of output cycles, and generate a distinctive counter‐cyclical labor response. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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