La dinamica delle quote distributive negli Stati Uniti e in Europa: una nota
DOI:
https://doi.org/10.13133/2037-3651/11048Parole chiave:
The social share of labour, open economies vs closed economies, US, EUAbstract
The social share of labour has been markedly decreasing over the period from 1975 to 1995 in Western European countries, while it has been rather stable in the US. This means that economies reacted to input price shocks, showing an ex post measure of the elasticity of substitution between capital and labour equal to the one in the US and larger in Europe. We argue that the main reason for this difference is the different degree of openness. European economies are more open, have a larger sector of tradable goods and rely more heavily on import of inputs. Conversely, the US present a pattern of macroeconomic variables fully consistent with the stylised facts that Kaldor pointed out in 1961 for closed economies.
JEL Code: E25
Riferimenti bibliografici
BAILY M.N. (1987), "Comment on Romer's 'Crazy explanations for the productivity slowdown'", NBER Macroeconomics Annua! 1987, pp. 205-08.
BAUMOL W.J. (1986), "Productivity growth, convergence and welfare: what longrun data show", American Economic Review, vol. 76, pp. 1072-85.
BLANCHARD 0. (1997), "The medium run", Brookings Papers on Economic Activity, vol. 2, pp. 89-158.
BRINKER B. et al. (1997), "Germany and France: confronting the cost of social policies", The McKinsey Quarterly, vol. 2, pp. 180-94.
CELLINI R. (1995), "Le parziali econometrie della crescita", Rivista di politica economica, vol. 85, pp. 3-55.
CELLINI R. (1997), "Implications of Solow's growth model in the presence of a stochastic steady state", Journal of Macroeconomics, vol. 19, pp. 135-53.
CONS J.-P. e E. RIGNOLS (1998), "Le partage de la valeur ajoutée: quelques ensignements tirés du paradoxe franco-américain", Revue de l'OECE, vol. 65, pp. 291-344.
D'ADDA C. e A. SCORCU (1997), "Real interest rate and growth: an empirical note", Journal of International and Comparative Economics, vol. 5, pp. 301-11.
DAVERI F. e G. TABELLINI (1997), "Unemployment, growth and taxation in indu-strial countries", IGIER, mimeo.
FASSBECK H., B. HENRY, P. JACQUET e R. LEVINE (1997), "Unemployment in the US, Germany, France and the UK: first ideas about common features, differen-ces, and a coherent explanation", Friedrich-Erbert-Stiftung, Berlin, mimeo.
FITOUSSI J.P. e E. PHELPS (1988), The Slump in Europe, Oxford University Press, Oxford.
KRUGMAN P. (1996), Pop Internationalism, MIT Press, Cambridge, Mass. (II edizione 1997).
MADDISON A. (1982), Phases of Capitalist Development, Oxford University Press, Oxford.
MADDISON A. (1987), "Growth and slowdown in advanced capitalist economies: techniques of quantitative assessment", Journal of Economic Literature, vol. 25, pp. 649-98.
MANKIW G.N. (1995), "The growth of nations", Brookings Papers on Economie Activity, vol. 1, pp. 275-326.
MANKIW GN., D. ROMER e D.N. WEIL (1992), "A contribution to the empirics of economic growth", Quarterly Journal of Economics, vol. 107, pp. 407-37.
OECD (1997), Data base (su dischetto).
PHELPS E. (1994), Structural Slumps, Harvard University Press, Cambridge, Mass.
ROMER P. (1987), "Growth based on increasing returns due to specialization", American Economie Review Papers and Proceedings, vol. 77, pp. 56-72.
ROMER P. (1987), "Crazy explanations for the productivity slowdown", NBER Macroeconomics Annual 1987, pp. 163-202.
SYLOS LABINI P. (1995), "Why the interpretation of the Cobb-Douglas production function must be radically changed", Structural Change and Economic Dynamics, vol. 6, pp. 485-504.
##submission.downloads##
Pubblicato
Fascicolo
Sezione
Licenza
Ogni materiale pubblicato sul sito e gli articoli pubblicati sulla rivista sono distribuiti con Licenza internazionale Creative Commons Attribuzione - Non commerciale - Non opere derivate 4.0. Copia della licenza è disponibile alla URL http://creativecommons.org/licenses/by-nc-nd/4.0. Gli autori mantengono i diritti sulla loro opera e cedono alla rivista il diritto di prima pubblicazione dell'opera con la licenza suindicata.
