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An empirical note on factor shares

Hernando Zuleta ()

The Journal of International Trade & Economic Development, 2008, vol. 17, issue 3, 379-390

Abstract: In this study, we propose an explanation for why labor and capital shares do not seem to have a trend: an increasing trend in physical capital share is compensated by a decreasing trend in land share. Similarly, an increasing trend in human capital share is compensated by a decreasing trend in raw labor share. We also find empirical support for the claim that the elasticity of output with respect to reproducible factors, human and physical capital, is positively correlated with the income level. This result has important implications for economic growth theory and for empirical exercises related to economic growth.

Keywords: factor income shares; biased innovations; elasticity of output with respect to factors (search for similar items in EconPapers)
Date: 2008
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