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Income distribution and growth: a global model

Income distribution and growth: a global model

Onaran, Özlem ORCID: 0000-0002-6345-9922 and Galanis, Giorgos (2014) Income distribution and growth: a global model. Environment and Planning A, 46 (10). pp. 2489-2513. ISSN 0308-518X (Print), 1472-3409 (Online) (doi:https://doi.org/10.1068/a46265)

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Abstract

This paper estimates the effects of a change in the wage share on growth at global level in the G20 countries. A decrease in the wage share in isolation leads to lower growth in the euro area, Germany, France, Italy, the UK, the US, Japan, Turkey, and South Korea, whereas it stimulates growth in Canada, Australia, Argentina, Mexico, China, India, and South Africa. However, a simultaneous decline in the wage share in all these countries leads to a decline in global growth. Furthermore, Canada, Argentina, Mexico, and India also experience negative effects on growth when they decrease their wage share along with their trading partners. The results indicate that the global decline in labour share has had significant negative effects on growth.

Item Type: Article
Additional Information: [1] Attached is the Accepted Manuscript of an article published by Pion Ltd. in Environment and Planning A, available online: http://www.envplan.com/abstract.cgi?id=a46265 or http://dx.doi.org/10.1068/a4626. This is Özlem Onaran and Giorgos Galanis, 2014. The definitive, peer-reviewed and edited version of this article is published in Environment and Planning A, volume 46, issue 10, pages 2489-2513, 2014, doi:10.1068/a46265. [3] This article has supplementary online material: http://www.envplan.com/misc.cgi?id=a46265. [4] Acknowledgements (funding): This paper has received research funding from the International Labour Office.
Uncontrolled Keywords: wage share, growth, global multiplier, consumption, investment, exports, imports, G20, developed and developing countries,
Subjects: H Social Sciences > HG Finance
H Social Sciences > HJ Public Finance
Faculty / Department / Research Group: Faculty of Business
Faculty of Business > Department of International Business & Economics
Related URLs:
Last Modified: 10 May 2019 10:28
Selected for GREAT 2016: GREAT b
Selected for GREAT 2017: None
Selected for GREAT 2018: None
Selected for GREAT 2019: GREAT 1
URI: http://gala.gre.ac.uk/id/eprint/12503

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