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Remeasuring labour's share

  • Andrew T. Young
  • Hernando Zuleta

Krueger (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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File URL: http://hdl.handle.net/10.1080/13504851.2012.718061
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Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 20 (2013)
Issue (Month): 6 (April)
Pages: 549-553

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Handle: RePEc:taf:apeclt:v:20:y:2013:i:6:p:549-553
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  1. Katz, Lawrence F. & Autor, David H., 1999. "Changes in the wage structure and earnings inequality," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 26, pages 1463-1555 Elsevier.
  2. Daron Acemoglu, 2002. "Technical Change, Inequality, and the Labor Market," Journal of Economic Literature, American Economic Association, vol. 40(1), pages 7-72, March.
  3. Alan Krueger, 1999. "Measuring Labor's Share," NBER Working Papers 7006, National Bureau of Economic Research, Inc.
  4. Kevin J. Stiroh & Dale W. Jorgenson, 1999. "Information Technology and Growth," American Economic Review, American Economic Association, vol. 89(2), pages 109-115, May.
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