Structural Change and the Labor Share: Insights From Baumol and Lewis
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Wiley Open Access
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| Natura: | Artículo Open Access |
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Wiley
2025
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| _version_ | 1867020205315588096 |
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| author | Codrina Rada Ansel Schiavone |
| author_facet | Codrina Rada Ansel Schiavone Codrina Rada Ansel Schiavone |
| collection | Wiley Open Access |
| contents | Structural Change and the Labor Share: Insights From Baumol and Lewis Codrina Rada Ansel Schiavone Metroeconomica ABSTRACT This paper makes two contributions. First, it links a model of structural change and income distribution to a method of decomposing the aggregate labor share into sectoral contributions. Second, it formalizes the interaction between structural change and the labor share using Baumol (1967) and Lewis (1954). The premise is a shift of employment from progressive to stagnant sectors. We find that: stagnant sector labor share dominates distribution under Baumolian assumptions; and, only the Lewis model can deliver a decline in the aggregate labor share for an economy undergoing a reverse‐Lewis structural change along the lines of Taylor and Ömer (2019). 10.1111/meca.70004 http://creativecommons.org/licenses/by/4.0/ |
| doi_str_mv | 10.1111/meca.70004 |
| format | Artículo Open Access |
| id | wiley_oa_10_1111_meca_70004 |
| institution | Wiley Open Access |
| license_str_mv | http://creativecommons.org/licenses/by/4.0/ |
| publishDate | 2025 |
| publisher | Wiley |
| record_format | wiley_oa |
| spellingShingle | Structural Change and the Labor Share: Insights From Baumol and Lewis Codrina Rada Ansel Schiavone Metroeconomica Structural Change and the Labor Share: Insights From Baumol and Lewis Codrina Rada Ansel Schiavone Metroeconomica ABSTRACT This paper makes two contributions. First, it links a model of structural change and income distribution to a method of decomposing the aggregate labor share into sectoral contributions. Second, it formalizes the interaction between structural change and the labor share using Baumol (1967) and Lewis (1954). The premise is a shift of employment from progressive to stagnant sectors. We find that: stagnant sector labor share dominates distribution under Baumolian assumptions; and, only the Lewis model can deliver a decline in the aggregate labor share for an economy undergoing a reverse‐Lewis structural change along the lines of Taylor and Ömer (2019). 10.1111/meca.70004 http://creativecommons.org/licenses/by/4.0/ |
| title | Structural Change and the Labor Share: Insights From Baumol and Lewis |
| topic | Metroeconomica |
| url | https://onlinelibrary.wiley.com/doi/10.1111/meca.70004 |