publication . Article . 2017

Globalisation and the decline of the labour share: A microeconomic perspective

Cristiano Perugini; Michela Vecchi; Francesco Venturini;
Open Access English
  • Published: 01 Dec 2017
  • Publisher: Elsevier
  • Country: Mauritius
Abstract
Abstract This paper contributes to the infant literature on the determinants of the labour share at the level of individual firms and provides novel insights on the effect of firms’ patterns of internationalisation. The analysis is performed using a rich dataset, covering six EU countries (Austria, France, Germany, Hungary, Italy and Spain) and combining information from the EFIGE survey and Amadeus balance sheets. Our results show that the labour share is lower for exporting firms and for those engaged in foreign direct investments or offshoring activities. These findings are robust to an array of sensitivity tests. Our instrumental variable analysis indicates ...
Subjects
free text keywords: Internationalization, Market power, Labour economics, Economics, Causation, Instrumental variable, Foreign direct investment, Globalization, Balance sheet, Offshoring
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