Economics, Econometrics and Finance
4 years ago

Global productivity slowdown linked to declining labor share, impacting national income.

The Productivity Slowdown and the Declining Labor Share: A Neoclassical Exploration
Gene M. Grossman, Elhanan Helpman, Ezra Oberfield, Thomas Sampson

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The article explores how a slowdown in global productivity may be causing a decrease in the share of income going to workers. By using a neoclassical growth model, the researchers found that a decrease in the growth rate of per capita income can explain a significant portion of the decline in the labor share in the U.S. postwar period.