Le partage de la valeur ajoutée en france

Abstract

The mark-up has moved a lot in France over the past years. While fairly stable before the first oil shock, wages share in value added has strongly grown till the beginning of the eighties. It has since then declined because of economic policies oriented towards an increase of the profits share. During the nineties, it was quite stable around a historical low level. The 6,6 percentage points diminution of the wages share from 1981 to 2000 was in part offset by a rise in taxation (in a broad sense) and led to a 3,9 points rise in net revenue for firms. The extra revenue plus an investment decrease were used to strongly reduce corporate net indebtedness. Some mark-up processes are analysed in order to illustrate macroeconomic mechanisms.