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- W3122397597 abstract "Measuring labor's share of an economy's aggregate income seems straightforward,at least in principle. Count up wage and salary income, along with the value of benefitsprovided to employees, and divide it by total income. However, one fundamentalconcept of labor's share in macroeconomic theory is not the amount of aggregate incomepaid out to labor. Rather, it is the share of aggregate production that is attributable toraw units of labor. Or, otherwise stated, it is the share of aggregate income that wouldhave been paid to laborers if they had no accumulated stocks of human capital.1 Thisshare corresponds to an aggregate production function parameter: the elasticity of outputwith respect to physical (i.e. non-augmented or raw) units of labor (Robert Solow, 1957).In this paper we estimate annual raw labor´s share for the US, 1949 to 1996." @default.
- W3122397597 created "2021-02-01" @default.
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- W3122397597 date "2008-05-01" @default.
- W3122397597 modified "2023-09-27" @default.
- W3122397597 title "Re-measuring labor's share" @default.
- W3122397597 hasPublicationYear "2008" @default.
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