Technology, market regulations and labour share dynamics
O'Mahony, Mary and Venturini, Francesco and Vecchi, Michela (2014) Technology, market regulations and labour share dynamics. In: 12th ZEW Conference on the Economics of Information and Communication Technologies, 16 June 2014, Mannheim.
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We investigate the causes of the declining trend in labour shares using a large industry level data set. We control for the time series properties of the data and for the presence of cross-sectional dependence. Our results show that technological changes (TFP) and ICT capital are a major source of the decline. However, knowledge capital (R&D and patents) increases labour shares, as well as more stringent regulations on Intellectual Property Rights (IPR). Other institutional factors do not play a significant role. Our results also show that hysteresis characterizes the dynamics of labour shares in all countries.
|Item Type:||Conference or Workshop Item (Paper)|
|Research Areas:||A. > Business School > Economics|
|Notes on copyright:||Access to full text restricted pending copyright check.|
|Depositing User:||Michela Vecchi|
|Date Deposited:||14 May 2015 09:55|
|Last Modified:||13 Oct 2016 14:34|
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