An empirical note on factor shares
In this study, we propose an explanation for why labor and capital shares do not seem to have a trend: an increasing trend in physical capital share is compensated by a decreasing trend in land share. Similarly, an increasing trend in human capital share is compensated by a decreasing trend in raw l...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2007
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- spa
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/10985
- Acceso en línea:
- https://doi.org/10.48713/10336_10985
http://repository.urosario.edu.co/handle/10336/10985
- Palabra clave:
- Economía laboral
Factor Income Shares
Biased Innovations
Elasticity of output with respect to factors
Rentas
Trabajo calificado
Desempleo
- Rights
- License
- http://purl.org/coar/access_right/c_abf2
| Summary: | In this study, we propose an explanation for why labor and capital shares do not seem to have a trend: an increasing trend in physical capital share is compensated by a decreasing trend in land share. Similarly, an increasing trend in human capital share is compensated by a decreasing trend in raw labor share. We also find empirical support for the claim that the elasticity of output with respect to reproducible factors, human and physical capital, is positively correlated with the income level. This result has important implications for economic growth theory and for empirical exercises related to economic growth |
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