Smith, Matthew; Yagan, Danny; Zidar, Owen M.; Zwick, Eric - National Bureau of Economic Research - 2021
This paper studies the coevolution of the fall in the US corporate sector labor share and the rise of business activity … 1986 accounts for one third of the decline in the corporate sector labor share between 1978 and 2017. Our adjustments are … the remaining decline in the labor share. Our findings highlight the importance of tax policy when measuring factor shares …