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Wage-led GrowthWhy Have Wage Shares Fallen? An Analysis of the Determinants of Functional Income Distribution

Wage-led Growth: Why Have Wage Shares Fallen? An Analysis of the Determinants of Functional... [In the last quarter century dramatic changes in income distribution have taken place. This refers to the personal distribution of income as well as to the functional distribution of income. Distribution has become more polarized in most OECD countries (OECD 2008, 2011), with the very top income groups increasing their income shares substantially in the Anglo-Saxon countries, in particular in the United States (Atkinson et al. 2011). Wage shares have fallen in virtually all OECD countries, with decreases typically being more pronounced in continental European countries (and Japan) than in the Anglo-Saxon countries. In the advanced economies1 the (adjusted) wage share has, on average, fallen from 73.4 in 1980 to 64.0 per cent in 2007 (Figure 2.1). The data for Germany are very similar (72.2 to 61.8); the decline is somewhat stronger in Japan (77.2 to 62.2) and a little weaker in the United States (70.0 to 64.9). Overall, real wage growth has clearly lagged behind productivity growth since around 1980. This constitutes a major historical change as wage shares had been stable or increasing in the post-war era.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Wage-led GrowthWhy Have Wage Shares Fallen? An Analysis of the Determinants of Functional Income Distribution

Part of the Advances in Labour Studies Book Series
Editors: Lavoie, Marc; Stockhammer, Engelbert
Stockhammer, Engelbert
Wage-led Growth — Nov 25, 2015
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30 pages

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References (79)

Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2013
ISBN
978-1-349-47092-1
Pages
40–70
DOI
10.1057/9781137357939_3
Publisher site
See Chapter on Publisher Site

Abstract

[In the last quarter century dramatic changes in income distribution have taken place. This refers to the personal distribution of income as well as to the functional distribution of income. Distribution has become more polarized in most OECD countries (OECD 2008, 2011), with the very top income groups increasing their income shares substantially in the Anglo-Saxon countries, in particular in the United States (Atkinson et al. 2011). Wage shares have fallen in virtually all OECD countries, with decreases typically being more pronounced in continental European countries (and Japan) than in the Anglo-Saxon countries. In the advanced economies1 the (adjusted) wage share has, on average, fallen from 73.4 in 1980 to 64.0 per cent in 2007 (Figure 2.1). The data for Germany are very similar (72.2 to 61.8); the decline is somewhat stronger in Japan (77.2 to 62.2) and a little weaker in the United States (70.0 to 64.9). Overall, real wage growth has clearly lagged behind productivity growth since around 1980. This constitutes a major historical change as wage shares had been stable or increasing in the post-war era.]

Published: Nov 25, 2015

Keywords: Income Distribution; International Monetary Fund; Bargaining Power; Advanced Economy; Union Density

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