The globalisation of labour

Has globalisation hurt workers in the rich economies? The latest Economist discusses a new IMF study in its Economics Focus piece, Smaller shares, bigger slices. They conclude that globalisation has reduced labour's share of national output:

It finds that both technological change and the globalisation of labour markets have depressed labour's share in all four groups. For the 18 countries as a whole, reckons the IMF, technology has mattered more. However, there are marked differences among them.

...The effects of labour globalisation were most evident in Anglo-Saxon and small European countries. However ...In Anglo-Saxon and smaller European countries, labour-market policies have partially offset the depressing effects of technology and globalisation on labour's share, mainly by shaving the tax wedge between what workers take home and what they cost to employ. In large European countries, increases in the ratio of unemployment benefits to wages have hurt labour's prospects, probably against policymakers' intentions.

But globalisation has also boosted worker's living standards through lower inflation:

Although globalisation has reduced labour's share of the pie, it has made the whole pie bigger, raising output and productivity and lowering the prices of traded goods and services. So are workers getting smaller shares but larger slices? Yes, concludes the fund: trade has helped, largely by making imports cheaper. Across the 18 countries studied, changes in trade prices boosted average real pay by 0.24% a year.

The analysis comes from Chapter 5 of the semi-annual IMF World Economic Outlook, which has just been published. You can download the chapter, The Globalization of Labor (PDF), or watch a video of the briefing by IMF economist Florence Jaumotte, who along with Irina Tytell, was the main author.

Comments

[Arthur Eckart]

I wonder if productivity has been measured correctly. From 1993 to 1998, 17.6 million U.S. jobs were created. However, from 2001 to 2006, only 3.7 million U.S. jobs were created. Given U.S. real GDP rose at almost equal rates in 1993-98 and 2001-06 (although slightly higher in the prior period), it seems productivity gains have been understated in the 2001-06 period (or overstated in the prior period), since real output rose with much fewer labor inputs.

http://www.signonsandiego.com/news/business/20070108-1059-bushsjobcount.html

[female viagra]

I think it is like aviagra for a old man

[travesti sex]

This article is very beautiful, I really get very beyendım text files manually to your health as you travesti very beautiful and I wish you continued success with all respect ..

Thanks for helpful information travesti siteleri you catch up us with your sagol instructional çok explanation.
en iyi travestiler en guzel travesti

travesti
istanbul travestileri
ankara travestileri
izmir travestileri
travestiler
trv
travesti siteleri
travesti video
travesti sex
travesti porno
travesti
travesti
travestiler
travesti
travestiler
sohbet
chat
organik
güncel blog

[Megan]

I agree with the previous post

[travesti]

travesti in Turkey to search, to find the right path and that you want to talk with travesti. Very thanks brother, good work.

[DJM]

Globalization is going to become much more easier to implement now that there are software tools available like Time Doctor ( http://www.timedoctor.com )which allow people to work anywhere and managers can guarantee workers are actually working using Time Doctor's great monitoring features.

[cheap coach bags]

Life is short, if the wasted years, the short life for too long. --- British playwright William Shakespeare.

[cheap coach bags]

Life is short, if the wasted years, the short life for too long. --- British playwright William Shakespeare.

[pandora jewellery]

Interesting perspective on India ... thanks!

[Metro Ethernet]

I can say globalization has changed all lbour distrbution.
With all technological tools, it is possible to hire a person from another country to work for you with no mayor problems and saving money.

If That person is qualified enough and comes with the chance to communication, that's a job insideseas..

[Computer Rentals]

Any effect in any part of the world can affect all places around, near by that region or country.
That's because people use to look for safety, and better places to live... a better quality in life.

[Property Investment]

We have views on social issues that may seem to some that we are hard-line Tories. However our economics policies and our opposition to the process called globalization could be considered by some to place us on the far-left of conventional politics.

[Kamagra]

Hey, Really great work,I would like to join your blog anyway so please continue sharing with us,...........

[ゼチーア]

Hi there,
Really nice job,There are many people searching about that now they will find enough sources by your tips.
Also looking forward for more tips about that