Calendrier du 12 mars 2019
PSI-PSE (Petit Séminaire Informel de la Paris School of Economics) Seminar
Du 12/03/2019 de 17:00 à 18:00
GETHIN Amory (PSE)
Political Cleavages and Inequality: An International Comparison (joint with Clara Martinez-Toledano T. and Thomas Piketty)
Paris Migration Seminar
Du 12/03/2019 de 16:30 à 19:00
PSE, 48 Bd Jourdan 75014 Paris, Salle R1-09
OREFICE Gianluca(CEPII)
ANELLI Massimo(Bocconi University)
Youth Drain, Entrepreneurship and Innovation
Applied Economics Lunch Seminar
Du 12/03/2019 de 12:30 à 13:30
Salle R2-01, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
PITON Sophie (PSE)
Revisiting the Global Decline of the Labor Share
écrit avec Germán Gutiérrez (NYU Stern)
We study the evolution of labor shares in the United States and Europe since 1950. Contrary to common wisdom, we show that the non-housing gross labor share remained stable in Europe, and declined only in the US. The divergence with prior research is due to the treatment of Residential Real Estate in sector accounts. While US accounts exclude all housing income from the nonfinancial corporate sector, European accounts include some rental activities. In fact, 19% of the capital stock of EU nonfinancial corporations are dwellings. The inclusion of housing income substantially biases the corporate labor share. Controlling for these differences, the labor share has remained stable in Europe and declined only in the US.