Labor Share Decline and Intellectual Property Products Capital
Raul Santaeulalia-Llopis and
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Dongya Koh: University of Arkansas
No 873, Working Papers from Queen Mary University of London, School of Economics and Finance
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
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Journal Article: Labor Share Decline and Intellectual Property Products Capital (2020)
Working Paper: Labor Share Decline and Intellectual Property Products Capital (2016)
Working Paper: Labor share decline and intellectual property products capital (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:qmw:qmwecw:873
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