Rent Extraction by Capitalists

Markus Brueckner
Authors registered in the RePEc Author Service: Markus Brueckner

ANU Working Papers in Economics and Econometrics from Australian National University, College of Business and Economics, School of Economics

Abstract: Rent extraction by capitalists is present if the capital income share exceeds the capital output elasticity. Based on a sample of 111 countries during the period 1970-2010, this paper provides estimates of the capital output elasticity and compares these to countries' capital income shares. Three findings arise: (i) for the average country in the sample, the capital income share significantly exceeds the capital output elasticity; (ii) the difference between the capital income share and the capital output elasticity has increased since the 1980s; (iii) in democracies the capital income share is not significantly different from the capital output elasticity.

Keywords: Capital output elasticity; capital income share; rent extraction (search for similar items in EconPapers)
JEL-codes: E0 O4 (search for similar items in EconPapers)
Date: 2016-04
New Economics Papers: this item is included in nep-his and nep-mac
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Related works:
Journal Article: Rent extraction by capitalists (2017)
Working Paper: Rent extraction by capitalists (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:acb:cbeeco:2016-634

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