Since 2014
Labor share trends in three Baltic countries: literature review and empirical evidence
Ekonomika
View Archive Info| Field | Value | |
| Title |
Labor share trends in three Baltic countries: literature review and empirical evidence
Labor share trends in three Baltic countries: literature review and empirical evidence |
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| Creator |
Razgūnė, Aušra
Lazutka, Romas |
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| Subject |
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labor share, Baltic countries, small open economies, functional income distribution — — labor share, Baltic countries, small open economies, functional income distribution — |
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| Description |
Long-term stability of relative shares of production factors – labor and capital – was an implied fact for a long time. However, recently empirical data have become available, and several authors have presented a conclusive evidence showing a worldwide decline in labor share, which is especially manifested in Continental Europe.Despite the recent scientific interest in the stability of labor share, the trend analysis for small open economies such as the Baltic countries is very limited in the scientific literature. Therefore, this article aims at analyzing theoretical literature and empirical evidences on the changes in functional income distribution with the focus on the Baltic countries while also providing interpretations of the possible causes for this shift. Authors primarily focus on labor share trends in Lithuania, Latvia, and Estonia, while stressing the importance of the correct measurement of this indicator.
Long-term stability of relative shares of production factors – labor and capital – was an implied fact for a long time. However, recently empirical data have become available, and several authors have presented a conclusive evidence showing a worldwide decline in labor share, which is especially manifested in Continental Europe.Despite the recent scientific interest in the stability of labor share, the trend analysis for small open economies such as the Baltic countries is very limited in the scientific literature. Therefore, this article aims at analyzing theoretical literature and empirical evidences on the changes in functional income distribution with the focus on the Baltic countries while also providing interpretations of the possible causes for this shift. Authors primarily focus on labor share trends in Lithuania, Latvia, and Estonia, while stressing the importance of the correct measurement of this indicator. |
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| Publisher |
Vilniaus universiteto Ekonomikos fakultetas / Vilnius University Faculty of Economics
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| Contributor |
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| Date |
2015-03-31
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://www.zurnalai.vu.lt/ekonomika/article/view/5322
10.15388/Ekon.2015.1.5322 |
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| Source |
Ekonomika; Ekonomika 2015 94(1); 97-116
1392-1258 1392-1258 |
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| Language |
lit
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| Relation |
http://www.zurnalai.vu.lt/ekonomika/article/view/5322/3476
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| Rights |
Autorinės teisės (c) 2015 Ekonomika
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