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Labor's shares - aggregate and industry: accounting for both in a model of unbalanced growth with induced innovation

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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.description.abstractThe 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.eng
dc.format.extent54 páginasspa
dc.format.mediumRecurso electrónicospa
dc.format.mimetypeapplication/pdf
dc.format.tipoDocumentospa
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.doihttps://doi.org/10.48713/10336_10789
dc.identifier.editorialUniversidad del Rosario, Facultad de Economíaspa
dc.identifier.urihttp://repository.urosario.edu.co/handle/10336/10789
dc.language.isospa
dc.publisherUniversidad del Rosariospa
dc.publisher.departmentFacultad de Economíaspa
dc.relation.citationIssueNo. 10
dc.relation.citationTitleSerie Documentos de trabajo. Economía
dc.relation.ispartofSerie Documentos de trabajo ; No. 10spa
dc.relation.urihttps://ideas.repec.org/p/col/000092/003105.html
dc.rights.accesRightsinfo:eu-repo/semantics/openAccess
dc.rights.accesoAbierto (Texto completo)spa
dc.rights.ccAtribución-NoComercial-SinDerivadas 2.5 Colombiaspa
dc.source.bibliographicCitationAcemoglu, Daron and Guerrieri, Veronica. "Capital Deepening and Non-balanced Growth." NBER Working Paper, 2006.
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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.source.instnameinstname:Universidad del Rosariospa
dc.source.instnameinstname:Universidad del Rosariospa
dc.source.reponamereponame:Repositorio Institucional EdocURspa
dc.subject.ddcEconomía laboral
dc.subject.keywordLabor's Shareeng
dc.subject.keywordFactor Shareseng
dc.subject.keywordDevelopmenteng
dc.subject.keywordBiased Technical Changeeng
dc.subject.keywordCapital Intensityeng
dc.subject.lembEconomía del trabajospa
dc.subject.lembMercado laboral::Modelos Econométricosspa
dc.subject.lembCrecimientos económicospa
dc.titleLabor's shares - aggregate and industry: accounting for both in a model of unbalanced growth with induced innovationspa
dc.typeworkingPapereng
dc.type.hasVersioninfo:eu-repo/semantics/acceptedVersion
dc.type.spaDocumento de trabajospa
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