Do factor shares reflect technology?
AbstractThis note demonstrates that it is still possible to identify the economy's technology from national income accounting data when wages are set through a bargaining process rather than the usual competitive mechanism. Applying the method to US data, we obtain that the output elasticity with respect to capital exceeds 0.5.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Macroeconomics.
Volume (Year): 30 (2008)
Issue (Month): 3 (September)
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Web page: http://www.elsevier.com/locate/inca/622617
Other versions of this item:
- E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
- E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
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