Labor share decline and intellectual property products capital

dc.contributor.author	KOH, Dongya
dc.contributor.author	SANTAEULÀLIA-LLOPIS, Raül
dc.contributor.author	ZHENG, Yu
dc.date.accessioned	2015-09-10T12:27:59Z
dc.date.available	2015-09-10T12:27:59Z
dc.date.issued	2015
dc.identifier.issn	1725-6704
dc.identifier.uri	https://hdl.handle.net/1814/36837
dc.description.abstract	We study the behavior of the US labor share over the past 65 years. We find that intellectual property products (IPP) capital entirely accounts for the observed decline of the US labor share, which otherwise is secularly constant for structures and equipment capital. The decline of the labor share reflects that the US is undergoing a transition to a more IPP capital-intensive economy. This result has essential implications for the US macroeconomic model.	en
dc.format.mimetype	application/pdf	en
dc.language.iso	en	en
dc.relation.ispartofseries	EUI ECO	en
dc.relation.ispartofseries	2015/05	en
dc.rights	info:eu-repo/semantics/openAccess	en
dc.subject	Labor share	en
dc.subject	Intellectual property products	en
dc.subject	Capital	en
dc.subject	1999- and 2013-BEA revisions	en
dc.subject	E01	en
dc.subject	E22	en
dc.subject	E25	en
dc.title	Labor share decline and intellectual property products capital	en
dc.type	Working Paper	en