Measuring Factor Income Shares at the Sectoral Level

Akos Valentinyi () and Berthold Herrendorf
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Akos Valentinyi: University of Southampton; Institute of Economics - Hungarian Academy of Sciences

No 803, CERS-IE WORKING PAPERS from Institute of Economics, Centre for Economic and Regional Studies

Abstract: Many applications in economics use multi-sector versions of the growth model. In this paper, we measure the income shares of capital and labor at the sectoral level for the U.S. economy. We also decompose the capital shares into the income shares of land, structures, and equipment. We find that the capital shares differ across sectors. For example, the capital share of agriculture is more than two times that of construction and more than 50% larger than that of the aggregate economy. Moreover, agriculture has by far the largest land share, which mostly explains why it has the largest capital share. Our numbers can directly be used to calibrate standard multi-sector models. Alternatively, if one wants to abstract from differences in sector capital shares, our numbers can be used to establish that this is not crucial for the results.

Keywords: input-output tables; industry-by-commodity total requirement matrix; sector factor shares (search for similar items in EconPapers)
JEL-codes: O41 O47 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2008-03
New Economics Papers: this item is included in nep-eff
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (252)

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Journal Article: Measuring Factor Income Shares at the Sector Level (2008)
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