The Role of Public Sector Wage Rates in the Determination of Labour Share

Yiorgos Ioannidis (), Dimitris Giakoulas and Anastasios Pappas
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Yiorgos Ioannidis: Centre for Planning and Economic Research (KEPE)
Dimitris Giakoulas: Aristotle University of Thessaloniki

Chapter Chapter 5 in The Role of the Public Sector in Building Social and Economic Resilience, 2024, pp 71-104 from Springer

Abstract: Abstract In a working paper on the functional distribution of income in Greece, Ioannidis (2020) found that the Labour Share (LS) of the total economy has recovered to pre-crisis levels, but this effect was solely due to the impact of public sector employment. When he calculated the LS in the private sector, he found a stronger decrease during the crisis period and a significant lag compared to pre-crisis levels. In this study, we expand this research in two directions. Firstly, we investigate if a similar effect is observed in the rest of the euro-zone countries by working on updated data series of their labour shares. Secondly, we examine if civil servants’ wages act in a pro-cyclical or anti-cyclical manner in euro-zone member states and whether there are common trends in specific country groupings.

Keywords: Labour share; Public sector (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-67702-1_5

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DOI: 10.1007/978-3-031-67702-1_5

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