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Labor share decline and intellectual property products capital

Koh, Dongya; Santaeulàlia-Llopis, Raül; Zheng, Yu
Authors registered in the RePEc Author Service: Raul Santaeulalia-Llopis, Dongya Koh () and Yu Zheng

No ECO2015/05, Economics Working Papers from European University Institute

Abstract: We study the behavior of the US labor share over the past 65 years. We find that intellectual property products (IPP) capital entirely accounts for the observed decline of the US labor share, which otherwise is secularly constant for structures and equipment capital. The decline of the labor share reflects that the US is undergoing a transition to a more IPP capital-intensive economy. This result has essential implications for the US macroeconomic model.

Keywords: Labor Share; Intellectual Property Products; Capital; 1999- and 2013-BEA Revisions (search for similar items in EconPapers)
JEL-codes: E01 E22 E25 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ipr, nep-pr~ and nep-mac
Date: 2015
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Related works:
Working Paper: Labor Share Decline and Intellectual Property Products Capital (2018) Downloads
Working Paper: Labor Share Decline and Intellectual Property Products Capital (2016) Downloads
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