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How Has The Globalization of Labor Affected the Labor Income Share in Advanced Countries?, Florence Jaumotte, Irina Tytell

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Abstract
Labor markets around the world have become increasingly integrated over the last two decades, with the entry of China, India and the former Eastern bloc into the world trading system, the removal of restrictions on trade and capital flows, and rapid technological progress. At the same time, the share of labor in national income decreased in most advanced countries. This paper uses a labor share equation derived from a translog revenue function to estimate the contributions of globalization, technological progress, and labor market policies to the decline in the labor share. The results, obtained for 18 advanced countries over 1982- 2002, suggest that globalization was only one of several factors that have affected the labor share. Technological progress, especially in the information and communications sectors, has had a bigger impact, particularly on the labor share in unskilled sectors
Table Of Contents
Contents; I. Introduction; II. How Globalized is Labor; III. How Has The Globalization of Labor Affected Workers in Advanced Economies?; IV. Labor Share and the Globalization of Labor: An Empirical Examination; A. Explaining the Labor Share; B. Empirical Methodology; C. Estimation Results; V. The Story Behind the Decline of the Labor Share; VI. Labor Compensation Per Worker, Employment, and Labor Globalization: What Can We Say?; VII. Summary and Policy Implications; Appendix; I. Data Sources and Methods; II. Derivation of the Empirical Model; Tables
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (56 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462374984

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