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Lunch and Learn Economics

Lunch and Learn: Economics

This workshop is for public and private sector industry professionals who are looking to take the next step in their career by upskilling with a postgraduate qualification in Economics from the ANU.

This session provides a taster of some of the latest research conducted by economists who will be teaching the Postgraduate Economics programs at the ANU over a working lunch*.

Presented by Dr Sephorah Mangin, Senior Lecturer with the ANU Research School of Economics.

*$15 registration fee covers the cost for lunch.

About the Session - Economics - Is the labour share constant?

What determines the aggregate income shares of workers and the owners of capital? Historically, this question was considered to be so fundamental that in 1817 Ricardo called it "the principal problem in Political Economy." More than two centuries later, it remains an open question. A standard approach in modern macroeconomics is to start by imposing two assumptions: (i) a specific aggregate production function and (ii) competitive factor markets. Since factors are paid their marginal products, labour’s share is simply equal the elasticity of the aggregate production function with respect to labour.

If the aggregate production function is Cobb-Douglas, as is commonly assumed, factor shares are constant. The problem with this standard approach is that factor shares are not constant but instead vary considerably over time. In this talk, Dr Mangin will present a new theoretical model of how factor shares are determined and discuss how fluctuations in the labor share are connected with unemployment and labor market conditions.

About the Facilitator

Dr Sephorah Mangin is Senior Lecturer at the ANU Research School of Economics. Sephorah has a PhD in Economics from the University of Melbourne and a Bachelor of Science/Bachelor of Arts (Hons) also from the University of Melbourne. Prior to joining ANU in 2018, Sephorah was a Lecturer at the Department of Economics at Monash University. She has also been a Postdoctoral Research Fellow at the University of Chicago and a Visiting Scholar at the NYU Stern School of Business

Her research interests include macroeconomics, labor, unemployment, and growth.

Updated:   28 March 2019 / Responsible Officer:  CBE Communications and Outreach / Page Contact:  College Web Team