Abstract
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.
| Original language | English |
|---|---|
| Pages (from-to) | 549-553 |
| Number of pages | 5 |
| Journal | Applied Economics Letters |
| Volume | 20 |
| Issue number | 6 |
| DOIs | |
| State | Published - Apr 2013 |
Keywords
- biased technical change
- capital intensity
- development
- factor shares
- human capital
- labour's share
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Cite this
Young, A. T., & Zuleta, H. (2013). Remeasuring labour's share. Applied Economics Letters, 20(6), 549-553. https://doi.org/10.1080/13504851.2012.718061