Remeasuring labour's share

Andrew T. Young, Hernando Zuleta

Research output: Contribution to journalArticle

1 Scopus citations

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 languageEnglish
Pages (from-to)549-553
Number of pages5
JournalApplied Economics Letters
Volume20
Issue number6
DOIs
StatePublished - Apr 2013

Keywords

  • biased technical change
  • capital intensity
  • development
  • factor shares
  • human capital
  • labour's share

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