Factor shares at the sector level, Colombia 1990-2005
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, we me...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2009
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- spa
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/11012
- Acceso en línea:
- https://doi.org/10.48713/10336_11012
http://repository.urosario.edu.co/handle/10336/11012
- Palabra clave:
- Economía financiera
Factor Shares
income distribution
Colombia
economic growth
cycles
Economía
Capital::Aspectos Económicos
Economía informal
Ciclos económicos
Tasas de interés
- Rights
- License
- http://purl.org/coar/access_right/c_abf2
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Factor shares at the sector level, Colombia 1990-2005Economía financieraFactor Sharesincome distributionColombiaeconomic growthcyclesEconomíaCapital::Aspectos EconómicosEconomía informalCiclos económicosTasas de interésIn 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, we measure capital share for 48 sectors during the period 1990-2005. We also explore the relation between capital's share and factor prices and the behavior of capital share during the business cycle. The main results are the following: (i) capital share is not constant but, rather, has an increasing trend; (ii) capital shares growth rates positively correlate with sector value-added growth; (iii) the capital shares behave pro-cyclically; and (iv) there is a positive correlation between capital shares and real wages and a negative correlation between capital shares and interest rates. These results suggest that the usual assumption of constant factor shares is not accurate.Universidad del RosarioFacultad de Economía20092015-10-14T14:05:57Zinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_804231 páginasRecurso electrónicoapplication/pdfDocumentohttps://doi.org/10.48713/10336_11012 http://repository.urosario.edu.co/handle/10336/11012instname:Universidad del Rosarioinstname:Universidad del Rosarioreponame:Repositorio Institucional EdocURspahttps://ideas.repec.org/p/col/000092/006120.htmlhttp://purl.org/coar/access_right/c_abf2Zuleta, HernandoGarcía Suaza, Andrés FelipeYoung, Andrew T.oai:repository.urosario.edu.co:10336/110122021-06-03T00:46:38Z |
dc.title.none.fl_str_mv |
Factor shares at the sector level, Colombia 1990-2005 |
title |
Factor shares at the sector level, Colombia 1990-2005 |
spellingShingle |
Factor shares at the sector level, Colombia 1990-2005 Economía financiera Factor Shares income distribution Colombia economic growth cycles Economía Capital::Aspectos Económicos Economía informal Ciclos económicos Tasas de interés |
title_short |
Factor shares at the sector level, Colombia 1990-2005 |
title_full |
Factor shares at the sector level, Colombia 1990-2005 |
title_fullStr |
Factor shares at the sector level, Colombia 1990-2005 |
title_full_unstemmed |
Factor shares at the sector level, Colombia 1990-2005 |
title_sort |
Factor shares at the sector level, Colombia 1990-2005 |
dc.subject.none.fl_str_mv |
Economía financiera Factor Shares income distribution Colombia economic growth cycles Economía Capital::Aspectos Económicos Economía informal Ciclos económicos Tasas de interés |
topic |
Economía financiera Factor Shares income distribution Colombia economic growth cycles Economía Capital::Aspectos Económicos Economía informal Ciclos económicos Tasas de interés |
description |
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, we measure capital share for 48 sectors during the period 1990-2005. We also explore the relation between capital's share and factor prices and the behavior of capital share during the business cycle. The main results are the following: (i) capital share is not constant but, rather, has an increasing trend; (ii) capital shares growth rates positively correlate with sector value-added growth; (iii) the capital shares behave pro-cyclically; and (iv) there is a positive correlation between capital shares and real wages and a negative correlation between capital shares and interest rates. These results suggest that the usual assumption of constant factor shares is not accurate. |
publishDate |
2009 |
dc.date.none.fl_str_mv |
2009 2015-10-14T14:05:57Z |
dc.type.none.fl_str_mv |
info:eu-repo/semantics/workingPaper |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_8042 |
dc.identifier.none.fl_str_mv |
https://doi.org/10.48713/10336_11012 http://repository.urosario.edu.co/handle/10336/11012 |
url |
https://doi.org/10.48713/10336_11012 http://repository.urosario.edu.co/handle/10336/11012 |
dc.language.none.fl_str_mv |
spa |
language |
spa |
dc.relation.none.fl_str_mv |
https://ideas.repec.org/p/col/000092/006120.html |
dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_abf2 |
rights_invalid_str_mv |
http://purl.org/coar/access_right/c_abf2 |
dc.format.none.fl_str_mv |
31 páginas Recurso electrónico application/pdf Documento |
dc.publisher.none.fl_str_mv |
Universidad del Rosario Facultad de Economía |
publisher.none.fl_str_mv |
Universidad del Rosario Facultad de Economía |
dc.source.none.fl_str_mv |
instname:Universidad del Rosario instname:Universidad del Rosario reponame:Repositorio Institucional EdocUR |
instname_str |
Universidad del Rosario |
institution |
Universidad del Rosario |
reponame_str |
Repositorio Institucional EdocUR |
collection |
Repositorio Institucional EdocUR |
repository.name.fl_str_mv |
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repository.mail.fl_str_mv |
|
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1803710494645682176 |