Corpus ID: 4625453

The Structural Shift in the Cyclicality of the Labor Income Share for the United States . Vasco Botelho ∗ Duke University

@inproceedings{Botelho2018TheSS,
  title={The Structural Shift in the Cyclicality of the Labor Income Share for the United States . Vasco Botelho ∗ Duke University},
  author={Vasco Botelho},
  year={2018}
}
  • Vasco Botelho
  • Published 2018
  • There is a consensus that the U.S. labor share is countercyclical, reflecting the existence of insurance against unemployment risk. I document a structural change in the cyclicality of the U.S. labor share, which has become procyclical during the last three decades. I show empirically that the new procyclicality of the labor share is due to the vanishing procyclicality of labor productivity, to the increase in the volatility of real wages and to the imperfect positive comovement between real… CONTINUE READING

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