7. Le partage de la valeur ajoutée n’a pas encore dévoilé tous ses mystères

Sophie Piton

Regards croisés sur l'économie, 2019, vol. n° 24, issue 1, 131-140

Abstract: Much has been written on the global decline of the wage share (defined as the share of income going to workers). The IMF and OECD are concerned about this trend, linking it to decreasing wages and rising inequality, and economists are searching for an explanation. This article provides an overview of these recent academic debates. In principle, measuring the wage share should be straightforward. In practice, however, it is harder than it looks : there are in fact multiple measures rather than just one, and these have varying degrees of relevance depending on the question being asked. While the share of GDP accruing to labor has been falling in a number of countries since the early 1980s, the share of corporate income accruing to labor?reflecting changes in the structure of production?has only fallen in the US. Explanations of this decline in the US corporate wage share include technological progress, globalization, and the growing power of cartels. However, to date there is no consensus on the origins of this US exceptionalism, with recent trends in income distribution yet to be fully understood.

Date: 2019
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