| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14693 |
| DP14693 What Determines the Capital Share over the Long Run of History? | |
| Daniel Waldenstrom; Erik Bengtsson; Enrico Rubolino | |
| 发表日期 | 2020-05-02 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | This paper analyzes the determinants of the labor-capital split in national income for 20 countries since the late 1800s. Our main identification strategy focuses on unique historical quasi-experimental events: i) the introduction of universal suffrage, ii) close election wins of left-wing governments, iii) decolonization, iv) unionization shocks, and v) wars. We also run instrumented panel regressions. Our findings show that the capital share decreased in response to radical institutional and political shifts, such as the introduction of universal suffrage in the early 1900s, the undoing of colonialism and the implementation of redistributive policies during the post-war period. By contrast, the capital share increased following the erosion of trade unionism since the 1980s. Wars, despite destroying the capital stock, generated windfall profits that increased the capital share. |
| 主题 | Economic History |
| 关键词 | Inequality Factor shares Event study Economic history Institutions |
| URL | https://cepr.org/publications/dp14693 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543610 |
| 推荐引用方式 GB/T 7714 | Daniel Waldenstrom,Erik Bengtsson,Enrico Rubolino. DP14693 What Determines the Capital Share over the Long Run of History?. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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