Income-led Growth Policies of Moon Administration: Evaluation and Challenges
#Wages·Labor Productivity·Wage Inequality
#General(Other)
[Presentation1] Wage-led Growth: Theory and Empirical Evidence
Robert A. Blecker2018.06.29
Contents
• Broad perspectives on inequality and growth
• Key recent empirical studies of inequality and growth
• Trends in the functional distribution of income (“wage” or labor share), G5 countries, 1980-2013
• Wage-led or profit-led demand: Theory
• Distributional effects of wage vs. profit shares on components of aggregate demand
• From theory to empirics
• Problems with aggregative estimates of profit-led demand
• Structural estimates finding mostly wage-led growth are more robust
• Caveats and qualifications to wage-led findings
• Recent studies of long-run vs. short-run effects
• Concluding remarks
• Broad perspectives on inequality and growth
• Key recent empirical studies of inequality and growth
• Trends in the functional distribution of income (“wage” or labor share), G5 countries, 1980-2013
• Wage-led or profit-led demand: Theory
• Distributional effects of wage vs. profit shares on components of aggregate demand
• From theory to empirics
• Problems with aggregative estimates of profit-led demand
• Structural estimates finding mostly wage-led growth are more robust
• Caveats and qualifications to wage-led findings
• Recent studies of long-run vs. short-run effects
• Concluding remarks
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