经济
劳动经济学
资本深化
人力资本
收入分配
实物资本
工资份额
税率
工资
效率工资
货币经济学
资本形成
金融资本
市场经济
不平等
数学分析
数学
作者
Gilberto Tadeu Lima,Laura Barbosa de Carvalho,Geraldo Gomes Serra
出处
期刊:Review of Keynesian Economics
[Edward Elgar Publishing]
日期:2021-07-19
卷期号:9 (3): 319-336
被引量:6
标识
DOI:10.4337/roke.2021.03.02
摘要
This paper incorporates human capital accumulation through provision of universal public education by a balanced-budget government to a demand-driven analytical framework of functional distribution and growth of income. Human capital accumulation positively impacts on workers’ productivity in production and their bargaining power in wage negotiations. In the long-run equilibrium, a rise in the tax rate (which also denotes the share of output spent in human capital formation) lowers the pre- and after-tax wage share and physical capital utilization, and thus raises (lowers) the output growth rate when the latter is profit-led (wage-led). The impact of a higher tax rate on the employment rate (which also measures human capital utilization) in the long-run equilibrium is negative (ambiguous) when output growth is wage-led (profit-led). In any case, the supply of higher-skilled workers does not automatically create its own demand.
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