Guillaume Bazot
Faculty
,
Aix-Marseille Université
, Faculté d'économie et de gestion (FEG)
- Status
- Professor
- Research domain(s)
- Finance, Macroeconomics
- Thesis
- 2011, École des hautes études en sciences sociales
- Thesis supervisor
- Thomas Belaich (since 2024), Lancelot Chardel (since 2025)
- Download
- CV
- Contact
- guillaume.bazot[at]univ-amu.fr
- Address
AMU - AMSE
5-9 Boulevard Maurice Bourdet, CS 50498
13205 Marseille Cedex 1
Guillaume Bazot, David Guerreiro
Abstract
Based on the calibration of a simple model, we decompose the decline in the labor share into four structural components: task displacement, labor rents, capital rents, and labor-capital substitution effect. Our estimation suggests that task displacement and the switch of distributed rents from labor to capital are the main drivers of the labor share decline over the past three decades. On the other hand, the neoclassical substitution effect seems not to have a long term impact on the labor share.
Keywords
Productivity, Rate of return on capital, Markup, Capital rents, Labor rents, Automation, Task displacement, Labor share
