Re-measuring labor's share

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 benefits provided to employees, and divide it by total income. However, one fundamental concept of labor's share in macroecon...

Descripción completa

Detalles Bibliográficos
Autores Principales: Young, Andrew T., Zuleta, Hernando
Formato: Documento de trabajo (Working Paper)
Lenguaje:Español (Spanish)
Publicado: Universidad del Rosario 2008
Materias:
Acceso en línea:http://repository.urosario.edu.co/handle/10336/10949
id ir-10336-10949
recordtype dspace
spelling ir-10336-109492019-09-19T12:37:01Z Re-measuring labor's share Young, Andrew T. Zuleta, Hernando Economía laboral Economía del trabajo Rentas Costos de mano de obra Costos de producción 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 benefits provided to employees, and divide it by total income. However, one fundamental concept of labor's share in macroeconomic theory is not the amount of aggregate income paid out to labor. Rather, it is the share of aggregate production that is attributable to "raw" units of labor. Or, otherwise stated, it is the share of aggregate income that would have been paid to laborers if they had no accumulated stocks of human capital.1 This share corresponds to an aggregate production function parameter: the elasticity of output with 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. 2008 2015-10-02T16:41:59Z info:eu-repo/semantics/workingPaper info:eu-repo/semantics/acceptedVersion http://repository.urosario.edu.co/handle/10336/10949 spa info:eu-repo/semantics/openAccess application/pdf Universidad del Rosario Facultad de Economía instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR instname:Universidad del Rosario
institution EdocUR - Universidad del Rosario
collection DSpace
language Español (Spanish)
topic Economía laboral
Economía del trabajo
Rentas
Costos de mano de obra
Costos de producción
spellingShingle Economía laboral
Economía del trabajo
Rentas
Costos de mano de obra
Costos de producción
Young, Andrew T.
Zuleta, Hernando
Re-measuring labor's share
description 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 benefits provided to employees, and divide it by total income. However, one fundamental concept of labor's share in macroeconomic theory is not the amount of aggregate income paid out to labor. Rather, it is the share of aggregate production that is attributable to "raw" units of labor. Or, otherwise stated, it is the share of aggregate income that would have been paid to laborers if they had no accumulated stocks of human capital.1 This share corresponds to an aggregate production function parameter: the elasticity of output with 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.
format Documento de trabajo (Working Paper)
author Young, Andrew T.
Zuleta, Hernando
author_facet Young, Andrew T.
Zuleta, Hernando
author_sort Young, Andrew T.
title Re-measuring labor's share
title_short Re-measuring labor's share
title_full Re-measuring labor's share
title_fullStr Re-measuring labor's share
title_full_unstemmed Re-measuring labor's share
title_sort re-measuring labor's share
publisher Universidad del Rosario
publishDate 2008
url http://repository.urosario.edu.co/handle/10336/10949
_version_ 1645140908411191296
score 11,366202