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来源类型Working Paper
规范类型报告
DOI10.3386/w23853
来源IDWorking Paper 23853
The Productivity Slowdown and the Declining Labor Share: A Neoclassical Exploration
Gene M. Grossman; Elhanan Helpman; Ezra Oberfield; Thomas Sampson
发表日期2017-09-25
出版年2017
语种英语
摘要We explore the possibility that a global productivity slowdown is responsible for the widespread decline in the labor share of national income. In a neoclassical growth model with endogenous human capital accumulation a la Ben Porath (1967) and capital-skill complementarity a la Grossman et al. (2017), the steady-state labor share is positively correlated with the rates of capital-augmenting and labor-augmenting technological progress. We calibrate the key parameters describing the balanced growth path to U.S. data for the early postwar period and find that a one percentage point slowdown in the growth rate of per capita income can account for between one half and all of the observed decline in the U.S. labor share.
主题Macroeconomics ; Macroeconomic Models ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand ; Development and Growth ; Growth and Productivity
URLhttps://www.nber.org/papers/w23853
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/581526
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Gene M. Grossman,Elhanan Helpman,Ezra Oberfield,et al. The Productivity Slowdown and the Declining Labor Share: A Neoclassical Exploration. 2017.
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