Industrielle Arbeitsbeziehungen.

Siegenthaler, Jurg K.; Fürstenberg, Friedrich

doi:10.2307/2522401

Cited by 2 publications

(2 citation statements)

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“…Others have looked at the drivers of the firm‐level labour share (e.g. Bell et al, 2018; De Loecker & Eeckhout, 2018; Mertens, 2022; Perugini et al, 2017; Siegenthaler & Stucki, 2015). A third group has produced statistical decompositions of the aggregate labour share, either looking at changes in the relative importance of firms with a higher/lower than average labour share (Abdih & Danninger, 2017; Bauer & Boussard, 2020; Valentinyi & Herrendorf, 2008), or comparing across‐firm changes in wages and labour productivity, the two factors that define the labour share (B¨ockerman & Maliranta, 2012; Kehrig & Vincent, 2021).…”

Section: Introductionmentioning

confidence: 99%

Firm heterogeneity and the aggregate labour share

Richiardi,

Valenzuela

2024

Labour

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We propose a model‐based decomposition method for the aggregate labour share in terms of the first moments of the joint distribution of total factor productivity, market power, wages and prices, and apply it to UK manufacturing using firm‐level data for 1998–2014. Contrary to a narrative focussing on increasing disparities between firms, the observed decline in the aggregate labour share over the period is driven entirely by the decline in the labour share of the representative firm, mostly due to an increasing disconnect between average productivity and real wages. Changes in the dispersion of firm‐level variables have contributed to slightly contain this decline.

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Section: Introductionmentioning

confidence: 99%

Firm heterogeneity and the aggregate labour share

Richiardi,

Valenzuela

2024

Labour

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“…The labour share, which is often used as a proxy for workers' bargaining power, has traditionally been thought to be constant at around two thirds (seeKaldor, 1957). WhileKarabarbounis and Neiman (2014) observe that the labour share has been declining to around 60 percent in the United States and many other countries since around 1980, Switzerland appears to be an exception, where it has actually remained at around 67 percent (seeSiegenthaler and Stucki, 2015).…”

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confidence: 99%