Zuleta, Hernando; Young, Andrew T. - In: Structural Change and Economic Dynamics 24 (2013) C, pp. 112-122
The relative stability of aggregate labor share constitutes one of the great macroeconomic ratios. However, relative … share converges from above to a non-zero value. At the sectoral level (iv) labor share in manufacturing trends toward zero …-intensive over time while (ii) there is an increase in the relative price and production share of services and (iii) aggregate labor …