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Full-Text Articles in Social and Behavioral Sciences
The Labor Share Question In China, Hao Qi
The Labor Share Question In China, Hao Qi
Doctoral Dissertations
In this study I explore why China’s labor share measured by the conventional approach experienced a major decline over the period from the mid-1990s to the outbreak of the global financial and economic crisis in 2008. I adopt a Marxian approach to address this question. Following the Marxian approach, I focus on how the power relation in the sphere of production affects labor’s share. I argue that major changes in the power relation that took place during the transition of China’s economic system have played a crucial role in the changes of distribution. To this end, I build homogenous series …
Is The Nature Of The Demand Regime Relevant Over The Medium Run? Revisiting Distributional Issues In A Portfolio Framework Under Different Exchange Rate Regimes, Arslan Razmi
Economics Department Working Paper Series
Is growth in capitalist economies wage-led or profit-led? Empirical studies have found conflicting results for different countries and periods. Possible reasons may include the endogeneity of distributional shares, differences in the monetary policy/exchange rate regimes across countries, and divergence between macro behavior in the short- and medium-runs. I theoretically explore these possibilities using a portfolio balance framework to keep track of asset stocks and wealth effects over time. With fixed exchange rates, the Central Bank’s need to intervene in the asset market via official reserve transactions results in assigning a crucial role to the current account in constraining accumulation and …