Labor share decline and intellectual property products capital

Dongya Koh, Raül Santaeulàlia-Llopis and Yu Zhen

We study the behavior of the US labor share over the past 70 years. We find that the capitalization of intellectual property products in the national income and product accounts entirely explains - in a purely accounting sense - the observed decline of the US labor share. We assess the implications of this result for the US macroeconomic model and discuss the way forward.

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Year of publication:	[2018]
Authors:	Koh, Dongya ; Santaeulàlia-Llopis, Raül ; Zhen, Yu
Publisher:	London : School of Economics and Finance, Queen Mary University of London
Subject:	Labor Share \| Intellectual Property Products \| Capital \| 1999- and 2013-BEA Revisions \| Immaterialgüterrechte \| Intellectual property rights \| Lohnquote \| Labor share

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Extent:	1 Online-Ressource (circa 23 Seiten) Illustrationen
Series:	Working paper. - London : [Verlag nicht ermittelbar], ISSN 1473-0278, ZDB-ID 2666392-2. - Vol. no. 873 (October 2018)
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Other identifiers:	hdl:10419/210428 [Handle]
Classification:	E01 - Measurement and Data on National Income and Product Accounts and Wealth ; E22 - Capital; Investment (including Inventories); Capacity ; E25 - Aggregate Factor Income Distribution
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011932539