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Labor Share, Capital Share, and Rents: A Macrohistorical Perspective

In: Handbook of Cliometrics

Author

Listed:
  • Guillaume Bazot

    (LED, University Paris 8)

  • David Guerreiro

    (LED, University Paris 8)

Abstract

This chapter reviews the literature on value added distribution in a long-run perspective. In so doing, it discusses: (i) the measure of the labor and capital shares; (ii) the set of explanation behind the evolution of those ratios, whether this is due to labor and capital substitution effect, the automation and creation of new tasks, and the evolution of firms market power and markup; (iii) the consequences on inequalities, growth, and welfare. In all cases, historical series are used to enlighten the issue while historical events are proposed to document-specific mechanisms at work.

Suggested Citation

  • Guillaume Bazot & David Guerreiro, 2024. "Labor Share, Capital Share, and Rents: A Macrohistorical Perspective," Springer Books, in: Claude Diebolt & Michael Haupert (ed.), Handbook of Cliometrics, edition 3, pages 1075-1105, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-35583-7_95
    DOI: 10.1007/978-3-031-35583-7_95
    as

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