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Les déterminants du taux de marge en France et quelques autres grands pays industrialisés : analyse empirique sur la période 1970-2000

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  • Mustapha Baghli
  • Gilbert Cette
  • Arnaud Sylvain

Abstract

[eng] Determinants of Profit Ratio in France and Other Major Industrialised Countries : Empirical Analysis Over the Period from 1970 to 2000.. This study explores the factors driving the observed movements in the profit ratio in several industrialised countries. It suggests the following conclusions : - in France, the profit ratio returned in the nineties to the level recorded in the beginning of the seventies (after stripping out the impact of self-employment) ; - in France, Germany and Japan, the profit ratio seems driven in the medium to long term by the real interest rate, the relative price of energy and the capacity utilisation rate ; - in France, the change in the unemployment rate affects the profit ratio in the short term. This may confirm the impact on bargaining power of the disequilibrium in the labour market. [fre] Determinants of Profit Ratio in France and Other Major Industrialised Countries : Empirical Analysis Over the Period from 1970 to 2000.. This study explores the factors driving the observed movements in the profit ratio in several industrialised countries. It suggests the following conclusions : - in France, the profit ratio returned in the nineties to the level recorded in the beginning of the seventies (after stripping out the impact of self-employment) ; - in France, Germany and Japan, the profit ratio seems driven in the medium to long term by the real interest rate, the relative price of energy and the capacity utilisation rate ; - in France, the change in the unemployment rate affects the profit ratio in the short term. This may confirm the impact on bargaining power of the disequilibrium in the labour market.

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  • Mustapha Baghli & Gilbert Cette & Arnaud Sylvain, 2003. "Les déterminants du taux de marge en France et quelques autres grands pays industrialisés : analyse empirique sur la période 1970-2000," Économie et Prévision, Programme National Persée, vol. 158(2), pages 1-25.
    • Handle: RePEc:prs:ecoprv:ecop_0249-4744_2003_num_158_2_6899
    DOI: 10.3406/ecop.2003.6899
    Note: DOI:10.3406/ecop.2003.6899
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    1. Bentolila Samuel & Saint-Paul Gilles, 2003. "Explaining Movements in the Labor Share," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-33, October.
    2. Robert J. Gordon, 1997. "The Time-Varying NAIRU and Its Implications for Economic Policy," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 11-32, Winter.
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    6. Shin, Yongcheol, 1994. "A Residual-Based Test of the Null of Cointegration Against the Alternative of No Cointegration," Econometric Theory, Cambridge University Press, vol. 10(1), pages 91-115, March.
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    8. Engle, Robert F. & Yoo, Byung Sam, 1987. "Forecasting and testing in co-integrated systems," Journal of Econometrics, Elsevier, vol. 35(1), pages 143-159, May.
    9. Arnaud Sylvain, 2001. "Rentabilité et profitabilité du capital : le cas de six pays industrialisés," Économie et Statistique, Programme National Persée, vol. 341(1), pages 129-152.
    10. Céline Prigent, 1999. "La part des salaires dans la valeur ajoutée en France : une approche macroéconomique," Économie et Statistique, Programme National Persée, vol. 323(1), pages 73-94.
    11. Jean-Philippe Cotis & Elisabeth Rignols, 1998. "Le partage de la valeur ajoutée : quelques enseignements tirés du « paradoxe franco-américain »," Revue de l'OFCE, Programme National Persée, vol. 65(1), pages 291-344.
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    1. Bruneau, C. & De bandt, O. & Flageollet, A., 2004. "Inflation and the Markup in the Euro Area," Working papers 114, Banque de France.
    2. Gilbert Cette & Lorraine Koehl & Thomas Philippon, 2019. "The Labor Share in the Long Term: A Decline?," Economie et Statistique / Economics and Statistics, Institut National de la Statistique et des Etudes Economiques (INSEE), issue 510-511-5, pages 35-51.
    3. Cette, Gilbert & Koehl, Lorraine & Philippon, Thomas, 2020. "Labor share," Economics Letters, Elsevier, vol. 188(C).
    4. Gilbert Cette & Jacques Mairesse & Yusuf Kocoglu, 2004. "Diffusion des TIC et croissance potentielle," Revue d'économie politique, Dalloz, vol. 114(1), pages 77-97.
    5. Nicolas Canry & Arnaud Lechevalier, 2006. "Wage share variations in France and Germany since 1970: what does really matter?," Post-Print halshs-00140529, HAL.
    6. Gilbert Cette & Lorraine Koehl & Thomas Philippon, 2019. "Labor Shares in Some Advanced Economies," NBER Working Papers 26136, National Bureau of Economic Research, Inc.
    7. R. S.-H. Lee & M. Pak, 2018. "Pro-competitive effects of globalisation on prices, productivity and markups: Evidence in the Euro Area," Documents de Travail de l'Insee - INSEE Working Papers g2018-06, Institut National de la Statistique et des Etudes Economiques.
    8. Baghli, M. & Brunhes-Lesage, V. & De bandt, O. & Fraisse, H. & Villetelle, J-P., 2004. "MASCOTTE: Model for AnalySing and foreCasting shOrT TErm developments," Working papers 106, Banque de France.

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    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

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