Technology, market regulations and labour share dynamics

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O'Mahony, M., Venturini, F. and Vecchi, M. 2014. Technology, market regulations and labour share dynamics. 12th ZEW Conference on the Economics of Information and Communication Technologies. Mannheim 16 - 17 Jun 2014
TitleTechnology, market regulations and labour share dynamics
AuthorsO'Mahony, M., Venturini, F. and Vecchi, M.
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.

Conference12th ZEW Conference on the Economics of Information and Communication Technologies
Publication dates
Print16 Jun 2014
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Deposited14 May 2015
Output statusPublished
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LanguageEnglish
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