社会的市場経済と分配問題

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Labour's Share of national income in the German social market economy has shown different movements from those in the UK and US economies. In the UK and US labour's share of income has been remarkably stable for decades, but in Germany it trended upward from the founding of the social market economy at the end of the 1940s until 1982 and then it sharply decreased during the 1980s. The paper analyses these movements of German income distribution from the 1960s to the 1990s. In Section 1 the distinctive movements of labour's share of income in the German economy are shown and compared with those of the UK, US, France and Japan. Sometimes it is said that labour's share of income in the western industrialized economies has remained relatively stable. But in France and Japan labour's share of income has shown growth path that resembles to that of Germany. In Section 2 the factors which determined these distinctive movements in the German economy are considered, following here the work of the Council of Economic Experts (Sachverstandigenrat zur Begutachtung) which used the method of Growth Accounting and 7 separate factors. Three of these 7 factors, that is wage, price and productivity effects, have played a fundamental role through the period. In Section 3 and 4 an attempt is made to explain the movements of labour's share of income in the framework of the Neoclassical distribution theory. In Section 3 the elasticity of substitution between labour and capital, and, rate of technical change are estimated and then yearly changes of income distribution are calculated. In Section 4 a wage setting equation is estimated and the effect of bargaining power of trade unions on wages and employment is discussed.
神戸大学の論文
1997-03-10

社会的市場経済と分配問題

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