A bit of a miracle no more: the decline of the labor share
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Roc Armenter: Federal Reserve Bank of Philadelphia
Business Review, 2015, issue Q3, 1-9
Why has labor's share of national income been declining steeply? How income is divided between labor and capital has implications for inequality and long-run economic growth. But as Roc Armenter explains, measuring labor's share is not so straightforward.
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