The Medium Run Revisited: An Alternative Perspective on Labour Share Developments in European and Anglo-Saxon Countries
This thesis revisits one of the most prominent contributions to the literature on labour income shares by \citet{blanchard1997} and offers an alternative perspective on the developments in European and Anglo-Saxon countries between 1970 and 2019. Labour shares in both groups of countries declined resulting from changes in relative factor prices and quantities. I find that changes in relative facto