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Labor Share Decline and Intellectual Property Products Capital

Author

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  • Dongya Koh
  • Raül Santaeulàlia‐Llopis
  • Yu Zheng

Abstract

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.

Suggested Citation

  • Dongya Koh & Raül Santaeulàlia‐Llopis & Yu Zheng, 2020. "Labor Share Decline and Intellectual Property Products Capital," Econometrica, Econometric Society, vol. 88(6), pages 2609-2628, November.
  • Handle: RePEc:wly:emetrp:v:88:y:2020:i:6:p:2609-2628
    DOI: 10.3982/ECTA17477
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    File URL: https://doi.org/10.3982/ECTA17477
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    More about this item

    JEL classification:

    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution

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