Premium
Labor Share Decline and Intellectual Property Products Capital
Author(s) -
Koh Dongya,
SantaeulàliaLlopis Raül,
Zheng Yu
Publication year - 2020
Publication title -
econometrica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 16.7
H-Index - 199
eISSN - 1468-0262
pISSN - 0012-9682
DOI - 10.3982/ecta17477
Subject(s) - capitalization , economics , wage share , intellectual property , capital (architecture) , labour economics , efficiency wage , wage , geography , political science , philosophy , linguistics , archaeology , law
We study the behavior of the U.S. labor share over the past 90 years. We find that the observed decline of the labor share is entirely explained by the capitalization of intellectual property products in the national income and product accounts.