G2TT
来源类型Working Paper
规范类型报告
DOI10.3386/w28747
来源IDWorking Paper 28747
Revisiting Capital-Skill Complementarity, Inequality, and Labor Share
Lee E. Ohanian; Musa Orak; Shihan Shen
发表日期2021-05-03
出版年2021
语种英语
摘要This paper revisits capital-skill complementarity and inequality, as in Krusell, Ohanian, Rios-Rull and Violante (KORV, 2000). Using their methodology, we study how well the KORV model accounts for more recent data, including the large changes in labor’s share of income that were not present in KORV. We study both labor share of gross income (as in KORV), and income net of depreciation. We also use non-farm business sector output as an alternative measure of production to real GDP. We find strong evidence for continued capital-skill complementarity in the most recent data, and that the model continues to closely account for the skill premium. The model captures the average level of labor share, though it overpredicts its level by 2-4 percentage points at the end of the period.
主题Macroeconomics ; Macroeconomic Models ; Consumption and Investment ; Labor Economics ; Labor Supply and Demand ; Labor Compensation ; Unemployment and Immigration
URLhttps://www.nber.org/papers/w28747
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/586421
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Lee E. Ohanian,Musa Orak,Shihan Shen. Revisiting Capital-Skill Complementarity, Inequality, and Labor Share. 2021.
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