Remeasuring labour's share
AbstractKrueger (1999) provides a measure of ‘raw’ labour's share for the US post-war economy based on Mincerian regressions. He finds that raw labour's share fell by over 8 percentage points from 1959 to 1996. We provide an alternative estimate using direct observations on the wage rates of raw labour units, i.e. those with 8 years of education or less; aged 16--18 years. Our measure of raw labour's share is considerably higher on average than Krueger's. Furthermore, our measure rises during the later part of the sample and is over 22% by 1996.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 20 (2013)
Issue (Month): 6 (April)
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Web page: http://www.tandfonline.com/RAEL20
Other versions of this item:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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