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Is the Labour Share Too Low in Finland?

In: Collective Bargaining and Wage Formation

Author

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  • Pekka Sauramo

    (The Labour Institute for Economic Research)

Abstract

The paper discusses the drastic decline in the labour share which took place in Finland during the 1990s. It examines whether the low level of the labour share can be regarded as a new equilibrium level or whether it is an indication of macroeconomic disequilibrium. The concept of ELIS (equilibrium labour income share) employed by Draper and Huizinga (2000) is used in the characterisation of the level of the labour share. The paper emphasises that the low level of the labour share is, like the high level of the unemployment rate, an indication of disequilibrium. During the coming years the share can, therefore, increase without threatening the macroeconomic equilibrium.

Suggested Citation

  • Pekka Sauramo, 2005. "Is the Labour Share Too Low in Finland?," Springer Books, in: Hannu Piekkola & Kenneth Snellman (ed.), Collective Bargaining and Wage Formation, pages 153-168, Springer.
    • Handle: RePEc:spr:sprchp:978-3-7908-1598-6_11
    DOI: 10.1007/3-7908-1598-5_11
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    Cited by:

    1. Ivan D. Trofimov, 2019. "Stability of Labour Shares: Evidence from OECD Economies," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 17(1), pages 57-89.

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