Template-Type: ReDIF-Article 1.0
Author-Name: J. Michael Orszag
Author-Name: Peter R. Orszag
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: mikeorszag@gmail.com
Title: Labor’s Share in Hungary
Abstract: This paper examines labor’s share of income in Hungary. We find that the trend
in labor’s share is substantially influenced by the treatment of self-employment;
self-employment has declined significantly because of both shifts across sectors
and reductions within sectors. Hungary’s labor share has been roughly constant
when labor compensation excludes the self-employed. The labor share with an
imputation for the self-employed has declined, but data quality concerns and
ambiguities surrounding the appropriate imputation make it difficult to reach
definitive quantitative conclusions about the extent of the decline. Policymakers
and researchers should be cautious in interpreting the apparent shifts in Hungary’s
labor share.
Classification-JEL:E01, E25, J30
Keywords: national income accounting, factor income, income distribution,
employees
Journal: Financial and Economic Review  
Pages: 5–24
Volume: 14
Issue: 2
Year: 2015
File-URL: http://english.hitelintezetiszemle.hu/letoltes/1-orszag-orszag-en.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:14:y:2015:i:2:p:5-24