Public enterprise and the rise and fall of labor share.
Developed economies experienced a rise and fall in labor share (LS) in the postwar period. We present a novel explanation of these trends – public enterprise employment. We document a link between it and both LS and wage compression in 15 developed nations. We then build a model that shows how overs...
| Publicado en: | Economic Inquiry Vol. 60; no. 1; pp. 320 - 351 |
|---|---|
| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
Jan2022
|
| Materias: | |
| 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=154222464&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 154222464 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: Jan2022 vid: 60 iid: 1 pid: 480 pub: Wiley-Blackwell artinfo: ui: 154222464 10.1111/ecin.13032 ppf: 320 ppct: 31 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 895KB tig: atl: Public enterprise and the rise and fall of labor share. aug: au: Bridgman, Benjamin Greenaway‐McGrevy, Ryan affil: Bureau of Economic Analysis, US Department of Commerce, Washington District of Columbia,, USA Department of Economics, University of Auckland, Auckland, New Zealand su: Government business enterprises Income inequality Private sector Stock prices Developed countries sug: subj: Government business enterprises Income inequality Private sector Stock prices Developed countries keyword: economic reform inequality labor share state owned enterprises economic reform inequality labor share state owned enterprises ab: Developed economies experienced a rise and fall in labor share (LS) in the postwar period. We present a novel explanation of these trends – public enterprise employment. We document a link between it and both LS and wage compression in 15 developed nations. We then build a model that shows how overstaffing public enterprises can increase LS and reduce wage inequality. Overstaffing directly increases public enterprise LS and indirectly increases private sector LS by reducing available labor. We examine several public enterprise reforms. Consistent with the model's predictions, reforms reduce public enterprise LS permanently and private sector LS temporarily. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|