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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.

Project Description

Summary:  View help for 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:  View help for Subject Terms Labor Share; Real Estate; Self-employment
JEL Classification:  View help for JEL Classification
      E22 Investment; Capital; Intangible Capital; Capacity
      E25 Aggregate Factor Income Distribution
      L85 Real Estate Services
Geographic Coverage:  View help for Geographic Coverage Advanced Economies
Time Period(s):  View help for Time Period(s) 1970 – 2015

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