Research Seminar 13/04/22: ''Labour Shares in the EU: Cross-Country Heterogeneity and Cross-Sectional Dependence'' (by Ilias Kostarakos)
Research Seminar Series in Economic Sciences, 2021-2022
Speaker: Ilias Kostarakos, Economic Analyst at the European Commission’s Joint Research Centre in Seville
Webpage: https://sites.google.com/site/ikostarakos/home
Title: Labour Shares in the EU: Cross-Country Heterogeneity and Cross-Sectional Dependence
Date & Time: Wednesday, April 13th, 2022, 19:00 - 20:30
Webex Link: https://uoa.webex.com/uoa/j.php?MTID=m6f2d44769f2375bf2090852c432d9ac6
Url: http://www.econ.uoa.gr/ereynhtika-seminaria-research-seminars.html
Abstract: The long-run stability of the labour share of income, a key component of modern macroeconomic analysis, has recently been challenged. This paper shows that the labour share in the EU followed an upward trend over the last 25 years; however, this EU-wide trend masks a large degree of heterogeneity. Moreover, using recently developed panel time series estimators that account for parameter heterogeneity and the impact of global common shocks, it empirically assesses the impact of various proposed determinants of the labour share. The empirical results indicate that capital deepening cannot explain the observed trends of the labour share. Moreover, they lend support to theories based on the impact of government activity and market concentration.
Organizers: Dimitris Kenourgios, Professor
George Dotsis, Assoc. Professor
Frago Kourandi, Assist. Professor