Cyclical Behavior of the Labor Share

Howard J. Sherman
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Howard J. Sherman: Department of Economics, University of California, Riverside, California 92521

Review of Radical Political Economics, 1990, vol. 22, issue 2-3, 92-112

Abstract: For 1970-1982, the wage/profit ratio is strongly counter-cyclical; it's movements are determined mainly by output demanded (or capacity utilization) and only secondarily by unemployment with a long time lag. These data weakened the case for the reserve army theory and strengthen the case for theories of deficient demand (but data for 1950-1970 lean more the other way).

Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:22:y:1990:i:2-3:p:92-112

DOI: 10.1177/048661349002200205

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