Labor's Shares - Aggregate and Industry: Accounting for Both in a Model of Unbalanced Growth With Induced Innovation

Zuleta, Hernando; Young, Andrew T.

doi:10.2139/ssrn.880062

Cited by 16 publications

(15 citation statements)

References 41 publications

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“…Our work is also related that of Bentolila and Saint-Paul (2003), Young (2006), and Zuleta and Young (2007), who studied the evolution of the labor share at the industry level. Specifically Bentolila and Saint-Paul (2003) looked at the labor shares in the value added of the 13 industries in the business sectors in 12 OECD countries during 1972-93 and Young (2006) and Zuleta and Young (2007) looked at the labor shares of 35 industries' value added in the U.S. during 1958-96.…”

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confidence: 91%

“…Specifically Bentolila and Saint-Paul (2003) looked at the labor shares in the value added of the 13 industries in the business sectors in 12 OECD countries during 1972-93 and Young (2006) and Zuleta and Young (2007) looked at the labor shares of 35 industries' value added in the U.S. during 1958-96. In other words, these studies focussed on the factor shares in industry value added and so they had nothing to say about the factor shares at the sectoral level on which we focus here.…”

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confidence: 99%

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Measuring factor income shares at the sectoral level

Valentinyi

Herrendorf

2008

Review of Economic Dynamics

265

176

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in February 2008 AbstractMany applications in economics use multi-sector versions of the growth model. In this paper, we measure the income shares of capital and labor at the sectoral level for the U.S.economy. We also decompose the capital shares into the income shares of land, structures, and equipment. We find that the capital shares differ across sectors. For example, the capital share of agriculture is more than two times that of construction and more than 50% larger than that of the aggregate economy. Moreover, agriculture has by far the largest land share, which mostly explains why it has the largest capital share. Our numbers can directly be used to calibrate standard multi-sector models. Alternatively, if one wants to abstract from differences in sector capital shares, our numbers can be used to establish that this is not crucial for the results.Keywords: input-output tables; industry-by-commodity total requirement matrix; sector factor shares JEL classification: O41; O47 * We thank the editor Tim Kehoe and two anonymous referees for suggestions that improved the paper considerably. We thank Edward Prescott for many helpful discussions about input-output tables, Randal Konoshita from the BLS for providing us with additional data, and Ben Bridgman, Cara McDaniel, Paul Schreck, and the audiences at ASU and the Federal Reserve Bank of Minneapolis for comments. Számos közgazdasági munka a neoklasszikus növekedési modell több szektoros változatát használja. Ebben a tanulmányban a tőkeés a munka szektor szintű jövedelemrészesedését mérjük az EgyesültÁllamokra. A tőke jövedelem részesedét felbontjuk föld,épületekés gépek részesedésére. Munkánk során azt találtuk, hogy a tőke részesedése jelentősen különbözik szektorok között. Például, a tőke részesedése a mezőgazdaságban több mint kétszer akkora, mint azépítőiparbanés 50%-kal magasabb, mint a gazdaság egészében. Számaink közvetlenül felhasználhatóak a több szektoros modellek paramétereinek kalibrálására. Ha pedig valaki el akar vonatkozatni a tőke jövedelemrészesedésének szektorok közötti különbségétől, akkor számaink felhasználhatók annak megállapítására, hogy ez lényeges-e vagy sem.

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confidence: 91%

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confidence: 99%

Measuring factor income shares at the sectoral level

Valentinyi

Herrendorf

2008

Review of Economic Dynamics

265

176

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“…Interesting theoretical papers on the same issue are: Zeira (1998Zeira ( , 2007, Zuleta and Young (2007), Zuleta (2008), Peretto and Seater (2008).…”

Section: Some Remarks On New Directions Of the Ngtsmentioning

confidence: 99%

The New Growth Theories and Their Empirics after Twenty Years

Capolupo

2009

Economics

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In this work the author updates the reviews on endogenous growth theories in order to explore whether recent empirical studies have become more supportive of their main predictions. Among the core topics studied in the growth econometric framework, namely convergence, identification of growth determinants and factors responsible for growth differences in the data, the primary focus of this paper is on the last two. The author will review, from macro growth regressions, studies that test primarily the performance of endogenous models in terms of significance and robustness of the coefficients of growth determinants. By highlighting methodological issues and critical discussion, she argues that: (i) causal inference drawn from the empirical growth literature remains highly questionable, (ii) there are estimates for a wide range of potential factors but their magnitude and robustness are still under debate. Her conclusion, however, is that, if properly interpreted, the predictions of endogenous growth models are gathering increasing empirical support. --Endogenous growth,growth regressions,convergence

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“…The literature on biased innovations is extensive: Kennedy (1964), Zeira (1998 and2005), Acemoglu (2002), Boldrin and Levine (2002), Peretto and Seater (2005), Zuleta (2006) and Zuleta and Young (2006) among others, present models of endogenous growth with biased technological change. They use this concept to explain differences in productivity across countries, the behavior of wage dispersion, long run growth and the behavior of factor shares.…”

Section: Factor Saving Innovationsmentioning

confidence: 99%

Labor supply, biased technological change and economic growth

Zuleta¹,

Alberico²

2007

ESPE

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Labor's Shares - Aggregate and Industry: Accounting for Both in a Model of Unbalanced Growth With Induced Innovation

Cited by 16 publications

References 41 publications

Measuring factor income shares at the sectoral level

Measuring factor income shares at the sectoral level

The New Growth Theories and Their Empirics after Twenty Years

Labor supply, biased technological change and economic growth

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