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The measurement of labour content: a general approach

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  • Yoshihara, Naoki
  • Veneziani, Veneziani

Abstract

This paper analyses the theoretical issues related to the measurement of labour content in the context of general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical foundations. Then, a simple measure of labour content is uniquely characterised, which is consistent with common practice in input-output analysis and with a number of recent approaches in value theory.

Suggested Citation

  • Yoshihara, Naoki & Veneziani, Veneziani, 2013. "The measurement of labour content: a general approach," CCES Discussion Paper Series 47, Center for Research on Contemporary Economic Systems, Graduate School of Economics, Hitotsubashi University.
  • Handle: RePEc:hit:ccesdp:47
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    More about this item

    Keywords

    labour content; labour productivity; technical change; axiomatic analysis;

    JEL classification:

    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory

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