Guillaume Bazot

Chercheur , Aix-Marseille Université , Faculté d'économie et de gestion (FEG)

Macroéconomie, économie du travail et économie internationale

Statut: Professeur des universités
Domaine(s) de recherche: Finance, Macroéconomie
Thèse: 2011, École des hautes études en sciences sociales
Téléchargement: CV
Contact: guillaume.bazot[at]univ-amu.fr
Adresse: AMU - AMSE
5-9 Boulevard Maurice Bourdet, CS 50498
13205 Marseille Cedex 1
Site: https://sites.google.com/view/guillaumebazot/

2025-03

A decomposition of the labor share decline in the US business sector

Guillaume Bazot, David Guerreiro

Résumé Based on the calibration of a simple model, we decompose the decline in the labor share into four structural components: task displacement, labor rents, capital rents, and labor-capital substitution effect. Our estimation suggests that task displacement and the switch of distributed rents from labor to capital are the main drivers of the labor share decline over the past three decades. On the other hand, the neoclassical substitution effect seems not to have a long term impact on the labor share.

Mots clés Productivity, Rate of return on capital, Markup, Capital rents, Labor rents, Automation, Task displacement, Labor share

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