Show simple item record

dc.creatorZuleta, Hernando 
dc.creatorYoung, Andrew T. 
dc.date.accessioned2015-09-14T15:42:44Z
dc.date.available2015-09-14T15:42:44Z
dc.date.created2007-01-17
dc.date.issued2007
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.identifier.urihttp://repository.urosario.edu.co/handle/10336/10789
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.format.mimetypeapplication/pdf
dc.language.isospa
dc.relation.ispartofSerie Documentos de trabajo ; No. 10
dc.relation.urihttps://ideas.repec.org/p/col/000092/003105.html
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.typeworkingPaper
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.keywordDevelopment
dc.subject.keywordBiased Technical Change
dc.subject.keywordCapital Intensity
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.type.spaDocumento de trabajo
dc.rights.accesoAbierto (Texto completo)
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.source.bibliographicCitationAcemoglu, Daron and Guerrieri, Veronica. "Capital Deepening and Non-balanced Growth." NBER Working Paper, 2006.
dc.source.bibliographicCitationAmbler, Steve and Cardia, Emanuela. "The Cyclical Behaviour of Wages and Profits under Imperfect Competition." Canadian Journal of Economics, 1998, 31 (1), pp. 148-164.
dc.source.bibliographicCitationBaumol, William J. "Macroeconomics of Unbalanced Growth: The Anatomy of Urban Crisis." American Economic Review, June 1967, 57 (3), pp. 415-426.
dc.source.bibliographicCitationCaselli, Francesco and Coleman, John. "The U.S. Structural Transformation and Regional Convergence: A Reinterpretation." Journal of Political Economy, 2001, 109, pp. 584-617.
dc.source.bibliographicCitationEchevarria, Christina. "Changes in Sectoral Composition Associated with Economic Growth." International Economic Review, 1997, 38, pp. 431-452.
dc.source.bibliographicCitationJorgenson, Dale W. & Gollop, Frank M. and Fraumeini, Barbara. Productivity and US Economic Growth. Cambridge: Harvard University Press, 1987.
dc.source.bibliographicCitationKaldor, Nicholas. "Capital Accumulation and Economic Growth." in The Theory of Capital, Lutz and Hagues (Eds.), New York: St. Martin's Press, 1961.
dc.source.bibliographicCitationNgai, L. Rachel and Pissarides, Christopher A. "Structural Change in a Multi-Sector Model of Growth." American Economic Review, 2006, forthcoming.
dc.source.bibliographicCitationSeater, John J. "Share-Altering Technical Progress." in Focus on Economic Growth and Productivity. Hauppauge: Nova Science Publishers, 2005.
dc.source.bibliographicCitationYoung, Andrew T. "Labor's Share Fluctuations, Biased Technical Change, and the Business Cycle." Review of Economic Dynamics, 2004, 7, pp. 916-31.
dc.source.bibliographicCitationZeira, Joseph. "Workers, Machines and Economic Growth." Quarterly Journal of Economics, 1998, 113 (4), pp. 1091-1117
dc.source.bibliographicCitationZeira, Joseph. “Machines as Engines of Growth” Working Paper, January 2006.
dc.source.bibliographicCitationZuleta, Hernando. "Factor Saving Innovations and Factors Income Share." Working Paper, October 2005.
dc.format.tipoDocumento
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombia


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record

 

Reconocimientos: