Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/228133
Authors: 
Coveri, Andrea
Pianta, Mario
Year of Publication: 
2019
Series/Report no.: 
LEM Working Paper Series No. 2019/35
Abstract: 
Building on a Post-Keynesian theoretical framework, integrated with an analysis of technology, this article investigates the structural determinants of income distribution. We develop a simultaneous model on wage and profit dynamics identifying as key determinants productivity growth, capital-labour conflict, the relevance of trade unions and different strategies of technological change and offshoring. We perform an industry-level analysis on 38 manufacturing and service sectors for six major European countries from 1994 to 2014. Wage and profit dynamics is shown to be rooted in structural change, productivity growth and capital-labour conflict, with profits driven by product innovation and offshoring, and wages rising faster where new products are relevant and trade unions have a greater role.
Subjects: 
Income distribution
innovation
offshoring
Europe
industries
JEL: 
F15
J31
O33
Document Type: 
Working Paper

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