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Articles 1 - 5 of 5
Full-Text Articles in Income Distribution
Employer Power: Consequences For Wages, Inequality And Spillovers, Ihsaan Bassier
Employer Power: Consequences For Wages, Inequality And Spillovers, Ihsaan Bassier
Doctoral Dissertations
In several countries, wages have stagnated and union membership declined, even as productivity has increased. The established view of employers helpless to the labor market's invisible hand has increasingly come under question. Attention has turned towards the power of employers to set wages; yet only recently have the data required to investigate this – observing workers at their employers – become available, and then mostly in richer countries. My first chapter, “Monopsony in Movers” (co-authored with Arindrajit Dube and Suresh Naidu), proposes a new credible estimation strategy to measure employer monopsony power. We build on the idea that employers with …
Economic Growth In Dual And Mature Economies: Revisiting The Pasinetti And Neo-Pasinetti Theorems, Peter Skott
Economic Growth In Dual And Mature Economies: Revisiting The Pasinetti And Neo-Pasinetti Theorems, Peter Skott
Economics Department Working Paper Series
This paper (i) examines the role of income distribution in the determination of the average saving rate and the growth process in dual and mature economies, and (ii) revisits the Pasinetti and neo-Pasinetti theo- rems. The profit share may influence saving because of differences in the saving rates across households (the Pasinetti theorem) or because firms retain part of their earnings (the neo-Pasinetti theorem). The two mechanisms are not mutually exclusive, and the alignment between warranted and natural growth rates in mature economies can happen through feed- back e¤ects from employment to the distribution of income.
Complexity, Diversity And Integration: Evidence From Recent Us Immigration, Noé Wiener
Complexity, Diversity And Integration: Evidence From Recent Us Immigration, Noé Wiener
Economics Department Working Paper Series
This article proposes alternative measures of immigrant integration founded in information theory. By considering differences in the heterogeneity of outcomes between immigrants and natives, the proposed measures provide robust and non-parametric estimates of the extent to which cohorts remain defined by their national origin. Integration is furthermore premised on equality in the association between economic characteristics and incomes, so that other factors can begin to shape outcomes for im-migrants and natives alike. Results for successive immigrant cohorts in the post-war era are presented using Census income data for the United States. The speed by which the mark of migration on …
Growth Cycles In Mature And Dual Economies, Peter Skott
Growth Cycles In Mature And Dual Economies, Peter Skott
Economics Department Working Paper Series
Mature economies may experience fluctuations, but the average medium and long run growth rate matches the natural rate. Like Kaldor's neo- Keynesian models, the Marx-Goodwin tradition explains this outcome by endogenizing the distribution of income and assuming that the accumulation of capital is increasing as a function of the profit share. The application of Goodwin cycles to developing economies may be hard to justify, however. The modified Goodwin models in this paper include relative-wage norms as a central element of wage formation. Norms change endogenously, leading to path dependence (hysteresis) in the stationary solution for the employment share of the …
World Profit Rates, 1960-2019, Deepankar Basu, Julio Huato, Jesus Lara Jauregui, Evan Wasner
World Profit Rates, 1960-2019, Deepankar Basu, Julio Huato, Jesus Lara Jauregui, Evan Wasner
Economics Department Working Paper Series
In this paper we present estimates of the world profit rate using country-level data from the Extended Penn World Table 7.0 and industry-level data from the World Input Output Database. The country-aggregated world profit rate series spans the period from 1960 to 2019, and the industry-aggregated world profit rate series runs from 2000 to 2014. The country-aggregated world profit rate series displays a strong negative linear trend for the period 1960-1980 and a weaker negative linear trend from 1980 to 2019. A medium run decomposition analysis reveals that the decline in the world profit rate is driven by a decline …