Remeasuring labour's share

Andrew Young () and Hernando Zuleta

Applied Economics Letters, 2013, vol. 20, issue 6, 549-553

Abstract: Krueger (1999) provides a measure of ‘raw’ labour's share for the US post-war economy based on Mincerian regressions. He finds that raw labour's share fell by over 8 percentage points from 1959 to 1996. We provide an alternative estimate using direct observations on the wage rates of raw labour units, i.e. those with 8 years of education or less; aged 16--18 years. Our measure of raw labour's share is considerably higher on average than Krueger's. Furthermore, our measure rises during the later part of the sample and is over 22% by 1996.

Date: 2013
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Working Paper: Re-measuring labor's share (2008)
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DOI: 10.1080/13504851.2012.718061

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