Edge, Rochelle M. (contributor); Laubach, Thomas (contributor) - 2008
System
John C. Williams
Federal Reserve Bank of San Francisco
May 2008
Working Paper 2007-11
http://www.frbsf.org/publications/economics … share, and hours are the Bureau
of Labor Statistics’ (BLS) measures for the nonfarm business sector, where the labor share …
is computed as output per hour times the deflator for nonfarm business output divided by
compensation per hour …