Calendrier du 01 octobre 2019
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 01/10/2019 de 17:00 à 18:00
BOCK Sebastien ()
Routine-Biased Technological Change and Hours Worked over the Business Cycle
Applied Economics Lunch Seminar
Du 01/10/2019 de 12:30 à 13:30
Salle R2-01, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
ARIELL Reshef ()
Are Your Labor Shares Set in Beijing? The View through the Lens of Global Value Chains
We study the evolution of labor shares while taking into account international trade based on value added concepts. On average, labor shares decline significantly in 1995-2007 and then recover somewhat in 2007-2014. Skilled labor shares increase strongly and uniformly throughout 1995-2014. Globalization consistently pushes labor shares down due to greater reliance on intermediate input trade, which is relatively capital intensive; complex global value chains are an important dimension of this process. Within-industry changes account for the reversal in the decline in labor shares after 2007, and almost all of the increase in skilled labor shares; we explain this by declines in the price of capital in the presence of capital-skill complementarity, together with within-industry forward GVC integration. Compared to shares in GDP, labor shares in gross national product (GNP) are higher in countries with positive net FDI positions; the uneven spread of multinational activity contributes to greater inequality through this channel.