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Recent Declines in Labor's Share in U.S. Income: A Preliminary Neoclassical Account

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As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Labor's Declining Share: A Primer
    by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2017-06-05 17:43:02
  2. Labor's Declining Share: A Primer
    by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2017-06-05 17:43:02

Citations

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Cited by:

  1. Rana Sajedi & Gregory Thwaites, 2016. "Why Are Real Interest Rates So Low? The Role of the Relative Price of Investment Goods," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 64(4), pages 635-659, November.
  2. Ivan D. Trofimov, 2017. "Capital Productivity In Industrialised Economies: Evidence From Error-Correction Model And Lagrange Multiplier Tests," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 62(215), pages 53-80, October –.
  3. Barış Kaymak & Immo Schott, 2023. "Corporate Tax Cuts and the Decline in the Manufacturing Labor Share," Econometrica, Econometric Society, vol. 91(6), pages 2371-2408, November.
  4. David Autor & David Dorn & Lawrence F Katz & Christina Patterson & John Van Reenen, 2020. "The Fall of the Labor Share and the Rise of Superstar Firms [“Automation and New Tasks: How Technology Displaces and Reinstates Labor”]," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(2), pages 645-709.
  5. Andrea L. Eisfeldt & Antonio Falato & Mindy Z. Xiaolan, 2023. "Human Capitalists," NBER Macroeconomics Annual, University of Chicago Press, vol. 37(1), pages 1-61.
  6. Machin, Stephen & Bell, Brian & Bukowski, Pawel, 2018. "Rent Sharing and Inclusive Growth," CEPR Discussion Papers 13408, C.E.P.R. Discussion Papers.
  7. Andrea Eisfeldt & Antonio Falato & Mindy Z. Xiaolan, 2018. "The Rise of Human Capitalist," 2018 Meeting Papers 1110, Society for Economic Dynamics.
  8. Gregory Thwaites, 2014. "Why are real interest rates so low? Secular stagnation and the relative price of investment goods," Discussion Papers 1428, Centre for Macroeconomics (CFM).
  9. Stieglitz, Moritz & Setzer, Ralph, 2022. "Firm-level employment, labour market reforms, and bank distress," Journal of International Money and Finance, Elsevier, vol. 120(C).
  10. Vahagn Galstyan & Adnan Velic, 2017. "Taxation, Debt and Relative Prices in the Long Run: The Irish Experience," The Economic and Social Review, Economic and Social Studies, vol. 48(3), pages 231-251.
  11. Kenneth G. Stewart & Jiang Li, 2018. "Are factor biases and substitution identifiable? The Canadian evidence," Canadian Journal of Economics, Canadian Economics Association, vol. 51(2), pages 528-548, May.
  12. Vahagn Jerbashian, 2022. "On the Elasticity of Substitution between Labor and ICT and IP Capital and Traditional Capital," CESifo Working Paper Series 9989, CESifo.
  13. Francesco Bloise & Irene Brunetti & Valeria Cirillo, 2022. "Firm strategies and distributional dynamics: labour share in Italian medium-large firms," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 39(2), pages 623-655, July.
  14. Ufuk Akcigit & Sina T. Ates, 2023. "What Happened to US Business Dynamism?," Journal of Political Economy, University of Chicago Press, vol. 131(8), pages 2059-2124.
  15. Zsofia Barany & Christian Siegel, 2021. "Engines of sectoral labor productivity growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 39, pages 304-343, January.
  16. Matthias Kehrig & Nicolas Vincent, 2017. "Growing Productivity without Growing Wages: The Micro-Level Anatomy of the Aggregate Labor Share Decline," CESifo Working Paper Series 6454, CESifo.
  17. Bom, Pedro R.D. & Erauskin, Iñaki, 2022. "Productive government investment and the labor share," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 347-363.
  18. Dani Rodrik, 2018. "New Technologies, Global Value Chains, and Developing Economies," NBER Working Papers 25164, National Bureau of Economic Research, Inc.
  19. d’Albis, Hippolyte & Boubtane, Ekrame & Coulibaly, Dramane, 2021. "Demographic changes and the labor income share," European Economic Review, Elsevier, vol. 131(C).
  20. Alessandro Bellocchi & Giovanni Marin & Giuseppe Travaglini, 2021. "The Great Fall of Labor Share:Micro Determinants for EU Countries Over 2011-2019," Working Papers 2102, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2021.
  21. George Sorg-Langhans & Clemens C. Struck & Adnan Velic, 2018. "Solving Leontief's Paradox with Endogenous Growth Theory," Working Papers 201819p, School of Economics, University College Dublin.
  22. Petre Caraiani, 2016. "Business Cycle Accounting for Peripheral European Economies," Scottish Journal of Political Economy, Scottish Economic Society, vol. 63(5), pages 468-496, November.
  23. Gabriele Ciminelli & Romain Duval & Davide Furceri, 2022. "Employment Protection Deregulation and Labor Shares in Advanced Economies," The Review of Economics and Statistics, MIT Press, vol. 104(6), pages 1174-1190, November.
  24. Jacob Short & Andrew Glover, 2017. "The Age-Distribution of Earnings and the Decline in Labor's Share," 2017 Meeting Papers 1369, Society for Economic Dynamics.
  25. Subhayu Bandyopadhyay & Elias Dinopoulos & Bulent Unel, 2018. "Effects of Credit Supply on Unemployment and Income Inequality," Review, Federal Reserve Bank of St. Louis, vol. 100(4), pages 345-362.
  26. Ufuk Akcigit & Sina T. Ates, 2021. "Ten Facts on Declining Business Dynamism and Lessons from Endogenous Growth Theory," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(1), pages 257-298, January.
  27. Emin Dinlersoz & Zoltan Wolf, 2024. "Automation, labor share, and productivity: plant-level evidence from U.S. manufacturing," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 33(4), pages 604-626, May.
  28. Takahashi, Harutaka & Le Riche, Antoine, 2021. "A dynamic theory of the declining aggregated labor income share: Intangible capital vs. tangible capital," Research in Economics, Elsevier, vol. 75(1), pages 104-118.
  29. Elisabetta Croci Angelini & Francesco Farina & Enzo Valentini, 2020. "Wage and employment by skill levels in technological evolution of South and East Europe," Journal of Evolutionary Economics, Springer, vol. 30(5), pages 1497-1514, November.
  30. Barth, James R. & Miller, Stephen Matteo, 2018. "Benefits and costs of a higher bank “leverage ratio”," Journal of Financial Stability, Elsevier, vol. 38(C), pages 37-52.
  31. David Autor & David Dorn & Lawrence F. Katz & Christina Patterson & John Van Reenen, 2017. "Concentrating on the Fall of the Labor Share," American Economic Review, American Economic Association, vol. 107(5), pages 180-185, May.
  32. Gene M. Grossman & Elhanan Helpman & Ezra Oberfield & Thomas Sampson, 2017. "Balanced Growth Despite Uzawa," American Economic Review, American Economic Association, vol. 107(4), pages 1293-1312, April.
  33. Bandyopadhyay, Subhayu & Dinopoulos, Elias & Unel, Bulent, 2016. "Effects of Credit Supply on Unemployment and Inequality," IZA Discussion Papers 10006, Institute of Labor Economics (IZA).
  34. Edwards, T. Huw & Lücke, Matthias, 2021. "Decomposing the growth of the high-skilled wage premium in an advanced economy open to trade," The Quarterly Review of Economics and Finance, Elsevier, vol. 80(C), pages 766-784.
  35. Gries, Thomas, 2019. "Income polarization and stagnation in a stochastic model of growth: When the demand side matters," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203576, Verein für Socialpolitik / German Economic Association.
  36. Jan Behringer, 2019. "Factor shares and the rise in corporate net lending," IMK Working Paper 202-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
  37. Dachs, Bernhard, 2017. "The impact of new technologies on the labour market and the social economy," MPRA Paper 90519, University Library of Munich, Germany.
  38. T. Gries & R. Grundmann & I. Palnau & M. Redlin, 2017. "Innovations, growth and participation in advanced economies - a review of major concepts and findings," International Economics and Economic Policy, Springer, vol. 14(2), pages 293-351, April.
  39. Shanks, Olga, 2024. "Increasing returns to scale and markups," Structural Change and Economic Dynamics, Elsevier, vol. 70(C), pages 257-267.
  40. Alvarez-Cuadrado, Francisco & Long, Ngo Van & Poschke, Markus, 2018. "Capital-labor substitution, structural change and the labor income share," Journal of Economic Dynamics and Control, Elsevier, vol. 87(C), pages 206-231.
  41. Suarez-Cuesta, David & Latorre, Maria C. & Lawrence, Robert Z., 2022. "Macroeconomic, sectoral and distributional effects of the Infrastructure Investment and Jobs Act in the United States," Conference papers 333457, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
  42. Luis Díez Catalán, 2018. "The labor share in the service economy," Working Papers 18/09, BBVA Bank, Economic Research Department.
  43. Constantin Chilarescu, 2021. "A production function with variable elasticity of substitution greater than one," Economics Bulletin, AccessEcon, vol. 41(3), pages 1741-1746.
  44. Jan Behringer, 2019. "Factor shares and the rise in corporate net lending," IMK Working Paper 202-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
  45. Clemens Struck & Adnan Velic, 2017. "Automation, New Technology, and Non-Homothetic Preferences," Trinity Economics Papers tep1217, Trinity College Dublin, Department of Economics.
  46. Goren, Amir, 2017. "Inequality and Production Elasticity," MPRA Paper 80316, University Library of Munich, Germany.
  47. Swayamsiddha Sarangi, 2023. "Labor share decline across US manufacturing sub-sectors: 1979-2019," Working Paper Series, Department of Economics, University of Utah 2023_07, University of Utah, Department of Economics.
  48. Clemens Struck & Adnan Velic, 2017. "To Augment Or Not To Augment? A Conjecture On Asymmetric Technical Change," Trinity Economics Papers tep0117, Trinity College Dublin, Department of Economics.
  49. Daan Steenkamp, 2018. "Factor Substitution and Productivity in New Zealand," The Economic Record, The Economic Society of Australia, vol. 94(304), pages 64-79, March.
  50. Benjamin Caswell, 2024. "On Measuring the Labour Income Share," National Institute of Economic and Social Research (NIESR) Discussion Papers 556, National Institute of Economic and Social Research.
  51. Saumik Paul & Yoko Oishi, 2018. "A Primer on the Drivers of Labor Income Share," Working Papers id:12948, eSocialSciences.
  52. Vicente Salas & Lucio San Juan & Javier Vallés, 2018. "Corporate cost and profit shares in the euro area and the US: the same story?," Working Papers 1833, Banco de España.
  53. Adnan Velic, 2023. "Factor Substitution Possibilities, Labor Share Dynamics, and Inequality in an Age of Intangibles," Trinity Economics Papers tep0723, Trinity College Dublin, Department of Economics.
  54. Jacob Short & Andrew Glover, 2016. "Accounting for Income Shares: The Changing Demographic Distribution of Earnings and the Decline in Labor Share," 2016 Meeting Papers 1631, Society for Economic Dynamics.
  55. Mary O’Mahony & Michela Vecchi & Francesco Venturini, 2021. "Capital Heterogeneity and the Decline of the Labour Share," Economica, London School of Economics and Political Science, vol. 88(350), pages 271-296, April.
  56. Weicheng Lian, 2019. "Technological Changes, Offshoring, and the Labor Share," IMF Working Papers 2019/142, International Monetary Fund.
  57. Croci Angelini, Elisabetta & Farina, Francesco & Valentini, Enzo, 2017. "Wages and employment by skill level in Southern and Eastern Europe during the crisis," GLO Discussion Paper Series 153, Global Labor Organization (GLO).
  58. Nicola Pensiero, 2022. "The effect of computerisation on the wage share in United Kingdom workplaces," The Economic and Labour Relations Review, , vol. 33(1), pages 158-177, March.
  59. Mertens, Matthias, 2019. "Micro-mechanisms behind declining labour shares: Market power, production processes, and global competition," IWH-CompNet Discussion Papers 3/2019, Halle Institute for Economic Research (IWH).
  60. Musa Orak, 2017. "Capital-Task Complementarity and the Decline of the U.S. Labor Share of Income," International Finance Discussion Papers 1200, Board of Governors of the Federal Reserve System (U.S.).
  61. Walter Paternesi Meloni & Antonella Stirati, 2023. "The decoupling between labour compensation and productivity in high‐income countries: Why is the nexus broken?," British Journal of Industrial Relations, London School of Economics, vol. 61(2), pages 425-463, June.
  62. vom Lehn, Christian, 2018. "Understanding the decline in the U.S. labor share: Evidence from occupational tasks," European Economic Review, Elsevier, vol. 108(C), pages 191-220.
  63. Trofimov, Ivan D. & Md. Aris, Nazaria & Bin Rosli, Muhammad K. F., 2018. "Macroeconomic Determinants of the Labour Share of Income: Evidence from OECD Economies," MPRA Paper 85597, University Library of Munich, Germany.
  64. Georgios Chortareas & Emmanouil Noikokyris, 2021. "Investment and labor income shares," Economic Change and Restructuring, Springer, vol. 54(3), pages 807-820, August.
  65. Seth G. Benzell & Erik Brynjolfsson, 2019. "Digital Abundance and Scarce Genius: Implications for Wages, Interest Rates, and Growth," NBER Working Papers 25585, National Bureau of Economic Research, Inc.
  66. Bennet Berger & Guntram B. Wolff, 2017. "The global decline in the labour income share- is capital the answer to Germany’s current account surplus?," Policy Contributions 20285, Bruegel.
  67. George Sorg-Langhans & Clemens Struck & Adnan Velic, 2017. "On the Factor Content of Trade," Trinity Economics Papers tep0817, Trinity College Dublin, Department of Economics, revised Jan 2018.
  68. Jacob Greenspon & Anna Stansbury & Lawrence H. Summers, 2021. "Productivity and Pay in the United States and Canada," International Productivity Monitor, Centre for the Study of Living Standards, vol. 41, pages 3-30, Fall.
  69. Werner Pena & Christian Siegel, 2023. "Routine-biased technical change, structure of employment, and cross-country income differences," Studies in Economics 2301, School of Economics, University of Kent.
  70. Zhang, Hongsong, 2019. "Non-neutral technology, firm heterogeneity, and labor demand," Journal of Development Economics, Elsevier, vol. 140(C), pages 145-168.
  71. Haoliang Zhu, 2019. "A quantitative analysis of global value chains: why has domestic value-added of China’s exports increased?," International Journal of Economic Policy Studies, Springer, vol. 13(2), pages 403-423, August.
  72. Bruno Martorano & Donghyun Park & Marco Sanfilippo, 2017. "Catching-up, structural transformation, and inequality: industry-level evidence from Asia," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 26(4), pages 555-570.
  73. Damiani, Mirella & Pompei, Fabrizio & Andrea, Ricci, 2018. "Labour shares, employment protection and unions in European economies," MPRA Paper 91300, University Library of Munich, Germany.
  74. Gries, Thomas, 2018. "A New Theory of Demand-Restricted Growth," VfS Annual Conference 2018 (Freiburg, Breisgau): Digital Economy 181515, Verein für Socialpolitik / German Economic Association.
  75. Thomas Gries, 2020. "A New Theory of Demand-Restricted Growth: The Basic Idea," The American Economist, Sage Publications, vol. 65(1), pages 11-27, March.
  76. George Sorg-Langhans & Clemens C. Struck & Adnan Velic, 2018. "Solving Leontief's Paradox with Endogenous Growth Theory," Working Papers 201819, School of Economics, University College Dublin.
  77. Andic, Selen & Burda, Michael C., 2021. "A reversal in the global decline of the labor share?," Economics Letters, Elsevier, vol. 209(C).
  78. Li, Defu & Benjamin, Bental, 2021. "Factor Supply Elasticities, Returns to Scale, and the Direction of Technological Progress," MPRA Paper 109920, University Library of Munich, Germany.
  79. Ivan D. TROFIMOV & Nazaria Md. ARIS & Muhammad Khairil Firdaus Bin ROSLI, 2018. "Macroeconomic determinants of the labour share of income: Evidence from OECD economies," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(616), A), pages 25-48, Autumn.
  80. Kostarakos, Ilias, 2020. "Determinants of the (non-Housing) Labour Income Share in the EU," Papers WP693, Economic and Social Research Institute (ESRI).
  81. Pengfei Zhang, 2023. "Endogenous capital-augmenting R&D, intersectoral labor reallocation, and the movement of the labor share," Journal of Economics, Springer, vol. 140(1), pages 1-36, September.
  82. Elena Crivellaro & Aikaterini Karadimitropoulou, 2019. "The role of financial constraints on labour share developments: macro- and micro-level evidence," Working Papers 257, Bank of Greece.
  83. Donghyun Park & Kwanho Shin, 2022. "Aging and labor share of income in Korea," Asian Economic Journal, East Asian Economic Association, vol. 36(4), pages 432-457, December.
  84. Wan-Jung Cheng, 2017. "Explaining Job Polarization: The Role of Heterogeneity in Capital Intensity," IEAS Working Paper : academic research 17-A015, Institute of Economics, Academia Sinica, Taipei, Taiwan, revised Feb 2018.
  85. Roberto Torrini, 2015. "Labour, Profit and Housing Rent Shares in Italian GDP: Long-Run Trends and Recent Patterns," Politica economica, Società editrice il Mulino, issue 3, pages 275-314.
  86. Yoonseok Lee & Mary E. Lovely & Hoang Pham, 2023. "Dynamic and non‐neutral productivity effects of foreign ownership: A nonparametric approach," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(1), pages 24-48, January.
  87. R. Dixon & G.C. Lim, 2017. "Labor's Share, the Firm's Market Power and TFP," Melbourne Institute Working Paper Series wp2017n22, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  88. Anna M. Stansbury & Lawrence H. Summers, 2017. "Productivity and Pay: Is the link broken?," NBER Working Papers 24165, National Bureau of Economic Research, Inc.
  89. Arjun Jayadev & Amay Narayan, 2020. "The Evolution of India's Industrial Labour Share and its Correlates," Development and Change, International Institute of Social Studies, vol. 51(4), pages 998-1017, July.
  90. Chao Chiung Ting, 2020. "Lucas Paradox, Declining Labor Share, Tendency of Rate of Profit to Fall of Karl Marx and Growth Theory of the Firm," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 12(9), pages 1-53, September.
  91. Mary O'Mahony & Michela Vecchi & Francesco Venturini, 2019. "Technology, Intangible Assets and the Decline of the Labor Share," Economic Statistics Centre of Excellence (ESCoE) Discussion Papers ESCoE DP-2019-17, Economic Statistics Centre of Excellence (ESCoE).
  92. Trofimov, Ivan D., 2017. "Capital productivity in industrialized economies: evidence from error-correction model and Lagrange Multiplier tests," MPRA Paper 81655, University Library of Munich, Germany.
  93. Joseba Martinez, 2018. "Automation, Growth and Factor Shares," 2018 Meeting Papers 736, Society for Economic Dynamics.
  94. Geoff Weir, 2018. "Wage Growth Puzzles and Technology," RBA Research Discussion Papers rdp2018-10, Reserve Bank of Australia.
  95. del Río, Fernando & Lores, Francisco-Xavier, 2023. "Accounting for the role of investment frictions in recessions," MPRA Paper 116024, University Library of Munich, Germany.
  96. Walter Paternesi Meloni & Antonella Stirati, 2021. "What has driven the delinking of wages from productivity? A political economy-based investigation for high-income economies," Working Papers PKWP2104, Post Keynesian Economics Society (PKES).
  97. Darong Dai & Guoqiang Tian, 2020. "On the Efficiency of Wage-Setting Mechanisms with Search Frictions and Human Capital Investment," Annals of Economics and Finance, Society for AEF, vol. 21(1), pages 1-40, May.
  98. T. Daniel Woodbury, 2020. "The provision of infrastructure: benefit–cost criteria for optimizing local governments," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 27(3), pages 552-574, June.
  99. Adnan Velic, 2023. "Wages and the Role of Intangibles in Finance," Trinity Economics Papers tep0323, Trinity College Dublin, Department of Economics.
  100. Buiter, Willem & Sibert, Anne, 2018. "Corporate Profit Taxes, Capital Expenditure and Real Wages: The analytics behind a contentious debate," CEPR Discussion Papers 12932, C.E.P.R. Discussion Papers.
  101. Kenneth G. Stewart & Jiang Li, 2018. "Are factor biases and substitution identifiable? The Canadian evidence," Canadian Journal of Economics, Canadian Economics Association, vol. 51(2), pages 528-548, May.
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