Nikolaos Charalampidis publiera dans les journaux Economic Inquiry et European Economic Review
18 novembre 2019
Nikolaos Charalampidis, professeur au Département d'économique, publiera un article intitulé "The U.S. labor income share and automation shocks"dans le vol 58 (1) issue du journal Economic Inquiry en janvier 2020.
Ci-dessous un résumé en anglais du papier qu'il est possible de consulter en entier ici.
Abstract : The causes and consequences of the 1964–2016 swings in the U.S. labor income share/labor share (LS) are parsed through the lens of a structural model estimated on aggregate and LS series jointly. Where conventional models fall short, the present model yields a counter‐cyclical LS unconditionally and in response to demand and monetary policy shocks, as well as a small wage pro‐cyclicality, via moderate wage indexation. Shifts in automation, workers' market power, investment efficiency, and the relative price of investment account for 54%, 24%, 6%, and 4% of LS fluctuations, respectively. Automation shocks explain the lion's share of the post‐2007 cyclical LS tumble and 11% of output cycles, and generate a distinctive counter‐cyclical labor response.
Aussi, son papier intitulé "On unemployment cycles in the Euro Area, 1999–2018" sera publié dans le volume 121 du journal European Economic Review également en janvier 2020.
Le papier est d'ailleurs disponible en ligne sur ce lien.
En anglais, voici un résumé de ce papier sur le chômage.
Abstract : This paper studies the recurrent sources of unit-root unemployment fluctuations in Greece, Italy, Portugal, Spain, and the Euro Area by integrating wage markup and labor disutility shocks that exhibit permanent euro-area-wide shifts, country-specific trend developments, and stationary changes in an estimated DSGE model. In all economies, these labor market shocks account for a negligible share of unemployment cycles. Demand shocks explain about 40% of them, contribute to the pre-crisis convergence of unemployment rates, and shape the unemployment spikes during the Great Recession. Cross-country relative price distortions and supply factors account for about 40% and 20% of those cycles, respectively.