Fiche du document
2019
- handle: 10670/1.17vhco
- doi: 10.24187/ecostat.2019.510t.1993
Copyright PERSEE 2003-2023. Works reproduced on the PERSEE website are protected by the general rules of the Code of Intellectual Property. For strictly private, scientific or teaching purposes excluding all commercial use, reproduction and communication to the public of this document is permitted on condition that its origin and copyright are clearly mentionned.
Sujets proches
Labor and laboring classesCiter ce document
Gilbert Cette et al., « The Labor Share in the Long Term: A Decline? », Economie et Statistique, ID : 10.24187/ecostat.2019.510t.1993
Métriques
Partage / Export
Résumé
We challenge the accepted wisdom of a global secular decline in the labor share. A simple theoretical model is proposed to highlight the main factors of change in the labor share. We document three issues in the existing literature : (i) starting periods for the empirical analysis ; (ii) accounting for self‑employment ; and (iii) accounting for residential real estate income. An empirical analysis is carried out since the post‑war period for France and the United States, and since the 1990s for ten developed countries and on a six‑country “euro area”. How the three questions above are addressed is crucial to the diagnosis. When the biases that may arise with the three issues mentioned above are eliminated, the labor share in the market sector does not show a general downward or upward trend. The choice of period has a huge impact, as does the treatment of real estate services, whose inclusion or not in the value added can result in significantly different trends.