Abstract
This paper presents an empirical approach to the evolution undergone by the functional distribution of income in the economies of Spain and Germany between 1999 and 2013. The striking fact about which we intend to shed light is the divergence in the evolution of the wage share that starts between the two countries since 2010. To do this, the work previously provides a literature review of the main contributions of authors from Political Economics approach have been identified as plausible determinants of the wage share. Once we have identified factors that determine the evolution of our dependent variable we proceed to contextualize them in the scenario where Spain and Germany are over period. Given the explanatory variables chosen and the empirical results, the main assumptions that sustains this work is that the reasons for the divergence in wage share are located in the weak productivity gains and the strong reduction of the average wage in Spain. In turn, we took the opportunity to aim some possible explanations for the divergence in wage shares (weak production structure and changes in collective bargaining, in part due to the launch of the euro).
Highlights
Divergence in the evolution of the wage share that starts between the two countries since 2010
The work previously provides a literature review of the main contributions of authors from Political Economics approach have been identified as plausible determinants of the wage share
Once we have identified factors that determine the evolution of our dependent variable we proceed to contextualize them in the scenario where Spain and Germany are over period
Summary
Es importante que recalquemos nuestro interés por estudiar la problemática de la distribución desde una óptica macroeconómica, la cual nos ayuda a comprender la dinámica general del sistema económico bajo el que vivimos. En un intento de aplicar las leyes de la Teoría General de Keynes, el científico social -más que economista5- Kenneth Ewart Boulding (1910-1993) elaboró en 1950 un modelo de distribución partiendo de las identidades básicas de la Aunque algunos autores utilicen a Keynes como punto de partida para sus respectivos análisis, existen otros, como Sidney Weintraub (1914-1983), que se apoyan en él para llevar a cabo una síntesis distributiva que ponga en línea los planteamientos de Keynes con los de la escuela neoclásica. De la teoría kaldoriana podemos inferir que un incremento de la inversión y el consumo de los empresarios en el seno de una economía capitalista como la que describe, conduce a un descenso de la participación relativa de los salarios sobre la renta.
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