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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Abstract

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
Item ID: 15990
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
URI: http://eprints.mdx.ac.uk/id/eprint/15990

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