@article{Imperfections:1227,
      recid = {1227},
      author = {Suchanek, Lena},
      title = {Labour Shares and the Role of Capital and Labour Market  Imperfections},
      publisher = {Bank of Canada},
      address = {2009},
      pages = {1 online resource (iii, 33 pages)},
      abstract = {In continental Europe, labour shares in national income  have exhibited considerable variation since 1970. Empirical  and theoretical research suggests that the evolution of  labour markets and labour market imperfections can, in  part, explain this phenomenon. The author analyzes the role  of capital market imperfections in the determination of the  distribution of national income, comparing European and  Anglo-Saxon countries. She uses a simple  general-equilibrium model to trace the effects of credit  and labour market imperfections on factor shares.  Simulations indicate that improvements in capital markets  can explain lower labour shares. An increase in the degree  of employee power results in higher labour shares.  Regression results confirm the author's findings.  Improvements in credit markets and decreasing employee  bargaining power have contributed to shrinking labour  shares, especially in Europe. Openness is a negative  determinant of labour shares.},
      url = {http://www.oar-rao.bank-banque-canada.ca/record/1227},
      doi = {https://doi.org/10.34989/sdp-2009-2},
}