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Endogenous labor share cycles: theory and evidence

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  • McAdam, Peter
  • Muck, Jakub
  • Growiec, Jakub

Abstract

Based on long US time series we document a range of empirical properties of the labor JEL Classification: E25, E32, O33, O41

Suggested Citation

  • McAdam, Peter & Muck, Jakub & Growiec, Jakub, 2015. "Endogenous labor share cycles: theory and evidence," Working Paper Series 1765, European Central Bank.
    • Handle: RePEc:ecb:ecbwps:20151765
    Note: 50336
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    More about this item

    Keywords

    CES; endogenous cycles; factor-augmenting endogenous technical change; labor income share; normalization; R&D; technology menu;
    All these keywords.

    JEL classification:

    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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