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<p>This paper examines whether income inequality conditions the welfare payoff of labor productivity in 20 OECD countries over 1870–2011. Using inequality-adjusted GDP per capita as a distribution-sensitive measure of economic performance, we estimate fixed-effects and threshold models across major historical periods. The results show that labor productivity is positively associated with inequality-adjusted GDP per capita, but this association weakens over time and above an estimated productivity threshold. Additional results suggest that the association between productivity and welfare-sensitive economic performance is generally stronger in less unequal settings, especially in later periods, although the pattern is not uniform across all subperiods. Overall, distribution matters for how strongly productivity gains translate into welfare-relevant economic performance.</p>

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When growth isn’t shared: a century of inequality, productivity, and adjusted economic output

  • 期刊论文

  • 发表日期：

    2026年7月27日

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  • Mahmut Zeki Akarsu,
  • İrem Yendi,
  • Erdem Seçilmiş

摘要

This paper examines whether income inequality conditions the welfare payoff of labor productivity in 20 OECD countries over 1870–2011. Using inequality-adjusted GDP per capita as a distribution-sensitive measure of economic performance, we estimate fixed-effects and threshold models across major historical periods. The results show that labor productivity is positively associated with inequality-adjusted GDP per capita, but this association weakens over time and above an estimated productivity threshold. Additional results suggest that the association between productivity and welfare-sensitive economic performance is generally stronger in less unequal settings, especially in later periods, although the pattern is not uniform across all subperiods. Overall, distribution matters for how strongly productivity gains translate into welfare-relevant economic performance.