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    The Labor Share of Income Around the World: Evidence from a Panel Dataset

    Guerriero, Marta | February 2019
    Abstract
    There are two fundamental reasons why factor shares have traditionally been overlooked in the economic literature. First, because of their nature, factor shares are conceptually difficult to define and measure. Second, they have for a long time been perceived as constant across time and space. In this study, we provide an evaluation of five different methodologies of estimation commonly used in the labor share literature and propose a new measurement. We then compile a global dataset of the labor income share across 151 economies—both developing and developed—for all or part of the period 1970–2015. Results show that our suggested indicator is correlated to the other five measures but it also retains unique information. Contrary to the traditional assumption of stable factor shares, we document the existence of considerable heterogeneity across economies and variability over time. Specifically, there has been a general decline in the labor share around the world, in particular from the mid-1980s onwards.
    Citation
    Guerriero, Marta. 2019. The Labor Share of Income Around the World: Evidence from a Panel Dataset. © Asian Development Bank Institute. http://hdl.handle.net/11540/9624.
    Keywords
    Alleviating Poverty
    Anti-Poverty
    Extreme Poverty
    Fight Against Poverty
    Global Poverty
    Health Aspects Of Poverty
    Indicators Of Poverty
    Participatory Poverty Assessment
    Poverty Eradication
    Poverty Analysis
    Poverty In Developing Countries
    Poverty Reduction Efforts
    Urban Poverty
    Results-Based Monitoring And Evaluation
    Project Evaluation & Review Technique
    Performance Evaluation
    Impact Evaluation Reports
    Evaluation Criteria
    Development Indicators
    Environmental Indicators
    Economic Indicators
    Educational Indicators
    Demographic Indicators
    Health Indicators
    Disadvantaged Groups
    Low Income Groups
    Socially Disadvantaged Children
    Aging
    Rural Conditions
    Rural Development
    Social Conditions
    Urban Development
    Urban Sociology
    Project finance
    Resources evaluation
    Needs assessment
    Cost benefit analysis
    Poor
    Economic forecasting
    Health expectancy
    Social groups
    Political participation
    Distribution of income
    Inequality of income
    Developing countries
    Rural community development
    Mass society
    Social change
    Social policy
    Social stability
    Population
    Sustainable development
    Peasantry
    Urban policy
    Urban renewal
    Results mapping
    Risk assessment
    Participatory monitoring and evaluation
    Cost effectiveness
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    Citable URI
    http://hdl.handle.net/11540/9624
    Metadata
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    Thumbnail
    adbi-wp920.pdf (1.645Mb)
    Author
    Guerriero, Marta
    Theme
    Poverty
    Evaluation
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise