D epartment of E conomics Research Seminar Series in Economic Sciences, 2021-2022
Speaker: Ilias Kostarakos, Economic Analyst at the European Commission's Joint Research Center in Seville
Webpage: https://sites.google.com/site/ikostarakos/home
Title: Labour Shares in
Cross-Country Heterogeneity and Cross-Sectional Dependence
Date & Time: Wednesday, April 13th, 2022, 19:00 – 20:30
Webex Link:
https://uoa.webex.com/uoa/j.php?MTID=m6f2d44769f2375bf2090852c432d9ac6
Url: http://www.econ.uoa.gr/ereynhtika-seminaria-research-seminars.html
Abstract: The long-run stability of the labor share of income, a key component of modern macroeconomic analysis, has recently been challenged.
This paper shows that the labor share in the EU followed an upward trend over the last 25 years; however, this EU-wide trend masks a large degree of heterogeneity. Moreover, using recently developed panel time series estimators that account for parameter heterogeneity and the impact of global common shocks, it empirically assesses the impact of various proposed determinants of the labor share. The empirical results indicate that capital deepening cannot explain the observed trends of the labor share.
Moreover, they lend support to theories based on the impact of government activity and market concentration.
Organizers: Dimitris Kenourgios, Professor
George Dotsis, Assoc. Professor
Frago Kourandi, Assist. Professor
Thank you.
Department of Economics
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