The measurement of labour content: An axiomatic approach

Naoki Yoshihara () and Roberto Veneziani

Journal of Economic Behavior & Organization, 2023, vol. 212, issue C, 392-402

Abstract: This paper analyses the theoretical issues related to the measurement of the amount of labour used in the production of – or contained in – a bundle of goods for general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical foundations. The main measures of labour content used in various strands of the literature are then characterised. Quite surprisingly, a unique axiomatic structure can be identified which underlies measures of labour aggregates used in such diverse fields as neoclassical growth theory, input-output approaches, productivity analysis, and classical political economy.

Keywords: Labour content; Labour productivity; Technical change; Axiomatic analysis (search for similar items in EconPapers)
JEL-codes: D57 D63 J24 O33 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:212:y:2023:i:c:p:392-402

DOI: 10.1016/j.jebo.2023.05.016

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