This paper explores aggregate profitability in Italy from 1994 to 2005 in its connection with structural change and gender employment disparities. The aggregate profit rate declined, but the profit share did not so. Male variables tend to have more weight than female ones in explaining aggregate outcomes. Structural change had a major role too, as the economy specialized in sectors with falling real wages and wage shares, the financial sector especially. Further falls in the wage share and widening wage gaps may not guarantee a rise in profitability.
Gender employment disparities, financialization and profitability dynamics on the eve of Italy's long crisis. WP Series University of Verona Department of Economics (ISSN 2036-2919), 22/2012
VAONA, Andrea
2012-01-01
Abstract
This paper explores aggregate profitability in Italy from 1994 to 2005 in its connection with structural change and gender employment disparities. The aggregate profit rate declined, but the profit share did not so. Male variables tend to have more weight than female ones in explaining aggregate outcomes. Structural change had a major role too, as the economy specialized in sectors with falling real wages and wage shares, the financial sector especially. Further falls in the wage share and widening wage gaps may not guarantee a rise in profitability.
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