Salarios y costes laborales unitarios en la economía española: la distribución funcional de la renta en la etapa de crecimiento económico
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Abstract
Between 1995 and 2007 the Spanish economy underwent a period of economic growth, with rates of economic growth above the average of the euro zone countries. However, and due to the strong creation of employment, real productivity per worker showed a relative stagnation throughout this period. In this study, we confirm that, despite the moderate growth of productivity, Spanish economy showed an almost constant drop on real Unit Labour Costs and on wages, also seen in real terms (and not in nominal terms). The result of it in terms of functional distribution of income is clear: despite the significant increase of wages in the Spanish economy, during some phases of the period we studied, the restraint of the real ULCs prevented the wage incomes from gaining weight in the Spanish income as a whole.
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