SHAO, ENCHUAN; SILOS, PEDRO - In: Economic Inquiry 52 (2014) 2, pp. 778-795
type="main" xml:lang="en" <p>Over the business cycle, labor's share of output is negatively but weakly correlated with output, and it lags output by about four quarters. Profits' share is strongly pro-cyclical. It neither leads nor lags output, and its volatility is about five times that of output....</p>