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Falling labor share and rising unemployment : long-run consequences of institutional shocks?

Berthold, Norbert; Fehn, Rainer; Thode, Eric - 1999

The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In contrast, this paper explicitly deals with the long-run...

Persistent link: https://www.econbiz.de/10010495336

Evidence of Induced Innovation in US Sectoral Capital’s Shares

Young, Andrew T.; Zuleta, Hernando; Garcia-Suaza, Andres - Department of Economics, College of Business and Economics - 2010

We use annual data on capital’s share and relative factor prices from 35 US industries from 1960 to 2005 to test the induced innovation hypothesis. We derive, from a production function framework, testable implications for the effect of contemporaneous and lagged factor price ratios on...

Persistent link: https://www.econbiz.de/10008476058

Falling labor share and rising unemployment: Long-run consequences of institutional shocks?

Berthold, Norbert; Fehn, Rainer; Thode, Eric - Wirtschaftswissenschaftliche Fakultät, Bayerische … - 1999

Persistent link: https://www.econbiz.de/10008531794

Directed Technological Change & Cross-Country Income Differences : A Quantitative Analysis

Jerzmanowski, Michal - 2019

and their productivity. Recent work suggests that these calculations should treat workers of different skill levels as … imperfect substitutes. However, under this approach, it has been challenging to compute skill-specific productivity levels for a … data set on labor force composition to construct measures of productivity for workers in three distinct skill categories …

Persistent link: https://www.econbiz.de/10012869262

Dividing the pie : the determinants of labor's share of income on the firm level

Siegenthaler, Michael; Stucki, Tobias - 2014

This paper is the first to study the factors determining labor's share of income on the level of the individual firm, employing an unusually informative panel data set. The empirical examination is concerned with Switzerland which stands out as one of the very few developed countries with a...

Persistent link: https://www.econbiz.de/10010248840

Income and Inequality Under Asymptotically Full Automation

Bond, Philip; Kremens, Lukas - 2023

We study a minimal model of automation in which, in the limit, labor is replaced by capital in all tasks. If tasks are gross complements and automation is sufficiently slow, the labor share remains strictly positive despite an endogenous reduction in hours worked and full automation in the...

Persistent link: https://www.econbiz.de/10014350245

Capital Quality Improvement and the Sources of Growth in the Euro Area

Sakellaris, Plutarchos; Vijselaar, Focco - 2021

The euro area experienced a slowdown in output and Total Factor Productivity growth in the 1990s compared to the 1980s …

Persistent link: https://www.econbiz.de/10013319330

Should We Fear the Robot Revolution? (The Correct Answer is Yes)

Berg, Andrew - 2018

We may be on the cusp of a 'second industrial revolution' based on advances in artificialintelligence and robotics. We analyze the implications for inequality and output, usinga model with two assumptions: 'robot' capital is distinct from traditional capital in itsdegree of substitutability with...

Persistent link: https://www.econbiz.de/10012913912

Factor Shares at the Sector Level, Colombia 1990-2005

Zuleta, Hernando; Garcia-Suaza, Andres F.; Young, Andrew - 2010

In general, empirical studies on economics rely on the assumption of constant capital share of income both at the aggregate level and at the sector level. However, there is no empirical evidence supporting the constancy of capital share at the sector level. In this paper, using Colombian data,...

Persistent link: https://www.econbiz.de/10014197301

One of the Things We Know that Ain't so : Is U.S. Labor's Share Relatively Stable?

Young, Andrew T. - 2006

Robert Solow (1958) argued that, from 1929-1954, U.S. aggregate labor's share was not stable relative to what we would expect given individual industry labor's shares. I confirm and extend this result using data from 1958-1996 that includes 35 industries (roughly 2-digit SIC level) and spans the...

Persistent link: https://www.econbiz.de/10014067450