¿Por qué cae la participación de los salarios en el ingreso total en México?

This article examines the evolution of the wage share in total income in Mexico during the period 2003-2013 distinguishing between the tradable and non tradable goods sectors. The main stylized fact of the period is that the fall in the wage share is due to an acute reduction of this share in the tradable goods sectors, particularly manufacturing, and not to the performance in the non tradable goods sectors where the wage share is approximately constant. This contrast is attributed to differences between sectors in price formation mechanisms together with contrasting labor productivity trends (fast growth in the tradables sectors and stagnation, with few exceptions, in the non tradables sectors). The article also addresses the paradox of why the rising profitability in the tradable goods sectors has not led to higher rates of capital accumulation and growth in these sectors, a feature that is explained by the evolution of unit labor costs which, despite its absolute reduction in manufacturing, have not significantly fallen relatively to those in the United States due to an even greater fall in the wage share in that countrýs manufacturing industry.