Labor Share Decline and Intellectual Property Products Capital

• 成果类型: Article
• 署名作者: Koh, Dongya; Santaeulalia-Llopis, Rauel; Zheng, Yu
• 署名单位: University of Arkansas System; University of Arkansas Fayetteville; Autonomous University of Barcelona; Barcelona School of Economics; University of London; Queen Mary University London; Centre for Economic Policy Research - UK
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA17477
• 发表日期: 2020
• 页码: 2609-2628
• 关键词: economic-growth

摘要

We study the behavior of the U.S. labor share over the past 90 years. We find that the observed decline of the labor share is entirely explained by the capitalization of intellectual property products in the national income and product accounts.