Finance, Labour, Capital, and International Integration

Giuseppe Bertola

No 11163, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: Labour incomes depend on structural as well as politico-economic factors, because labour market policies partially remedy the financial market imperfections that make labour income shocks difficult to insure, and have different implications for labour and capital income. This paper illustrates such theoretical insights with a simple model, and reviews evidence of their empirical relevance generated by international economic, monetary, and financial integration.

Date: 2016-03
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Journal Article: Finance, Labour, Capital, and International Integration (2016)
Working Paper: Finance, Labour, Capital, and International Integration (2016)
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