Domestic and International Economic Cycles,Industrial Structure and Changes in the Aggregate Share of Labour Income
The evolution of domestic and international economic cycles is accompanied by changes in industrial structure,which in turn affects the aggregate share of labour income.This paper constructed a decomposition framework for domestic and international economic cycles and its factor structure of macro-labour income share changes,and the global input-output table from 1997 to 2020 is used for calculation and analysis.The findings suggest that:(1)The intra-industry effect is the dominant factor producing changes in China's macro-labour income share at each stage,the industrial structure effect is also significant when China's industrial structure undergoes major changes.(2)The contribution of the domestic economic cycle and that of the international economic cycle to changes in the macro-labour income share at each stage are opposite.The domestic economic cycle plays a dominant role in contributing to the industrial structure effects,the decline in the degree of domestic economic circulation will reduce the macro-labour income share.In other word,the greater the degree of international economic cycle(external circulation),the macro-labour income share is lower.(3)The expansion of domestic demand scale in the domestic economic cycle makes a significant positive contribution at all stages.The gradual increase in the proportion of service inputs in the domestic production network is also conducive to increasing China's macro-labour income share.The expansion of final demand exports and the structural effects of international production networks on the international economic cycle further exhibit considerable positive effects at different stages.
macro-labour income shareindustrial structuredomestic and international economic cyclesinput-output model
万方数据
维普
