Intangible capital in U.S. manufacturing

Yan Liang

Economics Letters, 2021, vol. 199, issue C

Abstract: I use a quantitative growth model with intangible investments and endogenously variable markups, along with U.S. manufacturing data to infer the overall size of payments to intangible capital. These payments account for about 19% of manufacturing output, almost on par with physical capital and significantly higher than economic profits.

Keywords: Intangible capital; Markup; Labor share (search for similar items in EconPapers)
JEL-codes: E22 E23 L11 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:199:y:2021:i:c:s0165176520304572

DOI: 10.1016/j.econlet.2020.109697

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