Maria Cristina Barbieri Góes, Matteo Deleidi, Stefano Di Bucchianico, Luigi Salvati
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An Empirical Analysis of the Impact of Financialisation on the Rate of Profit for the US (1955–2019)
The purpose of this article is to examine the relationship between financialisation and functional income distribution. To this end, we empirically analyse the relationship between financialisation, the real wage level and the rate of profit in the US (1955–2019) using structural vector autoregressive modelling. According to our results, while an increase in financialisation leads to changes in the rate of profit with ambiguous signs and unclear statistical significance, financialisation has a clear, negative and persistent effect on the real wage level. We conclude with a reconsideration of the role of financialisation in shaping functional income distribution, as it appears to contribute directly to restraining real wage levels rather than directly impacting profitability.
期刊介绍：
BJIR (British Journal of Industrial Relations) is an influential and authoritative journal which is essential reading for all academics and practitioners interested in work and employment relations. It is the highest ranked European journal in the Industrial Relations & Labour category of the Social Sciences Citation Index. BJIR aims to present the latest research on developments on employment and work from across the globe that appeal to an international readership. Contributions are drawn from all of the main social science disciplines, deal with a broad range of employment topics and express a range of viewpoints.
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