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dc.creatorZuleta, Hernando 
dc.creatorYoung, Andrew T.
dc.identifier.citationZuleta, H., & Young, A. T. (2007). Labor's shares - aggregate and industry: accounting for both in a model of unbalanced growth with induced innovation. Bogotá: Universidad del Rosario, Facultad de Economía.
dc.descriptionThe relative stability of aggregate labor's share constitutes one of the great macroeconomic ratios. However, relative stability at the aggregate level masks the unbalanced nature of industry labor's shares – the Kuznets stylized facts underlie those of Kaldor. We present a two-sector – one labor-only and the other using both capital and labor – model of unbalanced economic development with induced innovation that can rationalize these phenomena as well as several other empirical regularities of actual economies. Specifically, the model features (i) one sector ("goods" production) becoming increasingly capital-intensive over time; (ii) an increasing relative price and share in total output of the labor-only sector ("services"); and (iii) diverging sectoral labor's shares despite (iii) an aggregate labor's share that converges from above to a value between 0 and unity. Furthermore, the model (iv) supports either a neoclassical steadystate or long-run endogenous growth, giving it the potential to account for a wide range of real world development experiences.
dc.format.extent54 páginas
dc.format.mediumRecurso electrónico
dc.relation.ispartofSerie Documentos de trabajo ; No. 10
dc.sourceinstname:Universidad del Rosario
dc.sourcereponame:Repositorio Institucional EdocUR
dc.sourceinstname:Universidad del Rosario
dc.subject.ddcEconomía laboral 
dc.subject.lembEconomía del trabajo
dc.subject.lembMercado laboral::Modelos Econométricos
dc.subject.lembCrecimientos económico
dc.titleLabor's shares - aggregate and industry: accounting for both in a model of unbalanced growth with induced innovation
dc.publisherUniversidad del Rosario
dc.publisher.departmentFacultad de Economía
dc.identifier.editorialUniversidad del Rosario, Facultad de Economía
dc.subject.keywordLabor's Share
dc.subject.keywordFactor Shares
dc.subject.keywordBiased Technical Change
dc.subject.keywordCapital Intensity
dc.type.spaDocumento de trabajo
dc.rights.accesoAbierto (Texto completo)
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dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombia

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