Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The IMF’s World Economic Outlook is packed with country specific facts, figures, and worldwide projections that present the outlook for growth, inflation, trade, and other economic developments in a clear, practical format. Leading international economists pull together the latest data on key topics, producing informed projections and policy analyses that show where the global economy is headed in the years to come. Business executives, policymakers, bankers, investors, marketing strategists, and economists worldwide refer to the WEO with confidence because it delivers a balanced view of the current economic situation, built upon the respected and extensive macroeconomic expertise and statistical resources of the IMF. The WEO is the product of a unique international exercise in information gathering and analysis performed by over 1,000 economists on the IMF staff. An annual subscription to the World Economic Outlook, published at least twice a year in English, French, Spanish, and Arabic, offers a comprehensive assessment of the international economic situation as well as prospects for the future. With its analyses backed by the expertise and unparalleled resources of the IMF, the World Economic Outlook is the authoritative reference in its field. Today, when even small economic fluctuations can trigger major financial swings, the WEO supplies a solid source of actionable information and data.

Economic History --- Business & Economics --- Exports and Imports --- Finance: General --- Foreign Exchange --- Labor --- Macroeconomics --- Inflation --- Wages, Compensation, and Labor Costs: General --- Price Level --- Deflation --- Current Account Adjustment --- Short-term Capital Movements --- Energy: Demand and Supply --- Prices --- General Financial Markets: General (includes Measurement and Data) --- Demand and Supply of Labor: General --- Labour --- income economics --- Currency --- Foreign exchange --- International economics --- Finance --- Labor share --- Oil prices --- Labor markets --- Real exchange rates --- Real effective exchange rates --- Wages --- Labor market --- Balance of payments --- Labor economics --- United States --- Income economics

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The past two decades have seen a decline in labor's share of national income in several industrial countries. This paper analyzes the role of three factors in explaining movements in labor's share--factor-biased technological progress, openness to trade, and changes in employment protection--using a panel of 18 industrial countries over 1960-2000. Since most studies suggest that globalization and rapid technological progress (associated with accelerated information technology development) began in the mid-1980s, the sample is split in 1985 into preglobalization/pre-IT revolution and postglobalization/post-IT revolution eras. The results suggest that the decline in labor's share during the past few decades in the OECD member countries may have been largely an equilibrium, rather than a cyclical, phenomenon, as the distribution of national income between labor and capital adjusted to capital-augmenting technological progress and a more globalized world economy.

National income --- Foreign trade and employment --- Wages and labor productivity --- Employees --- Wages --- Wage bargaining --- Globalization. --- Econometric models. --- Effect of technological innovations on --- Global cities --- Globalisation --- Internationalization --- Compensation --- Departmental salaries --- Earnings --- Pay --- Remuneration --- Salaries --- Wage-fund --- Wage rates --- Working class --- Laborers --- Personnel --- Workers --- Annual improvement factor --- Labor productivity and wages --- Employment and foreign trade --- Labor market --- Net national product --- Effect of international trade on --- International relations --- Anti-globalization movement --- Collective bargaining --- Income --- Labor costs --- Compensation management --- Cost and standard of living --- Prices --- Persons --- Industrial relations --- Personnel management --- Industrial engineering --- Labor productivity --- Productivity bargaining --- Commerce --- International trade --- Labor supply --- Investments, Foreign, and employment --- Trade adjustment assistance --- Flow of funds --- Gross national product --- Labor --- Macroeconomics --- Wages, Compensation, and Labor Costs: General --- Measurement and Data on National Income and Product Accounts and Wealth --- Environmental Accounts --- Labor Economics: General --- Employment --- Unemployment --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Labor Contracts --- Labour --- income economics --- Labor share --- Employment protection --- Labor economics --- Economic theory --- Manpower policy --- United States --- Income economics