The Effect of Labor's Bargaining Power on Wealth Inequality in the UK, USA, And France
研究劳动力议价能力对财富不平等的影响，发现其是决定顶层1%财富份额的重要因素，在英、美、法三国分别解释了32%、8%和32%的财富不平等长期趋势波动。
This paper analyses the determinants of wealth inequality, measured as the share of wealth owned by the top 1 percent wealthiest individuals. We find that labor's bargaining power is a significant and important determinant of top wealth shares. Using a semi‐structural vector autoregression (SVAR) model for the period 1970–2019, we estimate that shocks to labor's bargaining power explain 32 percent, 8 percent and 32 percent of the variation around the long‐term trend in wealth inequality in the UK, USA and France, respectively.