Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/110011
Authors: 
Giovannoni, Olivier
Year of Publication: 
2014
Series/Report no.: 
Working Paper, Levy Economics Institute 803
Abstract: 
This series of working papers explores a theme enjoying a tremendous resurgence: the functional distribution of income - the division of aggregate income by factor share. This first installment surveys some landmark theories of income distribution. Some provide a technology-based account of the relative shares while others provide a demand-driven explanation (Keynes, Kalecki, Kaldor, Goodwin). Two questions lead to a better understanding of the literature: is income distribution assumed constant?, and is income distribution endogenous or exogenous? However, and despite their insights, these theories alone fail to fully explain the current deterioration of income distribution. Subsequent installments are dedicated to analyzing the empirical literature (part II), to the measurement and composition of the relative shares (part III), and to a study of the role of economic policy (part IV).
Subjects: 
Wage Share
Labor Share
Profit Share
Ergodicity
Technology
JEL: 
D33
E24
E25
Document Type: 
Working Paper

Files in This Item:
File
Size
905.99 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.