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• W2215622335 abstract "The labor share in the income of T urkey is confoundingly low according to official figures. By comparison, the average labor share of OECD members is two times higher than that of T urkey. Is this because labor productivity is low, or is it because imperfect competition, which amplifies profits, is overwhelmingly high in T urkey? We estimate preferences, technology parameters, and price markup in a dynamic general equilibrium model to answer this question using GMM . To our surprise, the results suggest that the crucial factor suppressing the share of labor in T urkey is high price markup, and the role of low productivity of labor is negligible. The results are robust to the use of different instrumental variables." @default.
• W2215622335 created "2016-06-24" @default.
• W2215622335 creator A5003547714 @default.
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• W2215622335 date "2015-11-18" @default.
• W2215622335 modified "2023-10-04" @default.
• W2215622335 title "Why is the Labor Share so Low in Turkey?" @default.
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• W2215622335 doi "https://doi.org/10.1111/deve.12089" @default.
• W2215622335 hasPublicationYear "2015" @default.
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