Data and Code for: Revisiting the Global Decline of the (Non-Housing) Labor Share

Principal Investigator(s): View help for Principal Investigator(s) German Gutierrez, NYU Stern; Sophie Piton, Bank of England

Version: View help for Version V1

Name	File Type	Size	Last Modified
replication_files_main			02/11/2020 06:17:PM
ReadMe.pdf	application/pdf	780.7 KB	02/10/2020 10:29:AM

Project Citation:

Gutierrez, German, and Piton, Sophie. Data and Code for: Revisiting the Global Decline of the (Non-Housing) Labor Share. Nashville, TN: American Economic Association [publisher], 2020. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2020-08-26. https://doi.org/10.3886/E115761V1

Project Description

Summary:

We show that cross-country comparisons of corporate labor shares are affected by differences in the delineation of corporate sectors. While the US excludes all self-employed and most dwellings from the corporate sector, other countries include large amounts of both -- biasing labor shares downwards. We propose two methods to control for these differences and obtain `harmonized' non-housing labor share series. Contrary to common wisdom, the harmonized series remain stable or increase in all major advanced economies except the US and Canada. These new facts cast doubts on most technological explanations for the decline of the labor share.

Scope of Project

Subject Terms: Labor Share; Real Estate; Self-employment

JEL Classification:
      E22 Investment; Capital; Intangible Capital; Capacity
      E25 Aggregate Factor Income Distribution
      L85 Real Estate Services

Geographic Coverage: Advanced Economies

Time Period(s): 1970 – 2015

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Published Versions

V1 [2020-08-26]

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