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Labor Share Decline and Intellectual Property Products Capital

Dongya Koh, Raul Santaeulalia-Llopis and Yu Zheng
Additional contact information
Dongya Koh: University of Arkansas
Yu Zheng: Queen Mary University of London

No 873, Working Papers from Queen Mary University of London, School of Economics and Finance

Abstract: We study the behaviour of the US labor share over the past 70 years. We find that the capitalization of intellectual property products in the national income and product accounts entirely explains - in a purely accounting sense - the observed decline of the US labor share. We assess the implications of this result for the US macroeconomic model and discuss the way forward.

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 and nep-mac
Date: 2018-10-12
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Related works:
Working Paper: Labor Share Decline and Intellectual Property Products Capital (2016) Downloads
Working Paper: Labor share decline and intellectual property products capital (2015) Downloads
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