SMU SOE Seminar (Oct 11, 2019): Labor Share Decline and Intellectual Property Products Capital

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ABSTRACT We study the behavior of the US labor share over the past 70 years. We ﬁnd that the observed decline of the US labor share is entirely explained by the capitalization of intellectual property products in the national income and product accounts. We assess the implications of this result for the US macroeconomic model and discuss the way forward. Keywords: Labor share, intellectual property products, capital, 1999- and 2013-BEA revisions. JEL Codes: E01, E22, E25. Click here to view the paper. Click here to view the CV.
		PRESENTER Raul Santaeulalia-Llopis Universitat Autonoma de Barcelona
		RESEARCH FIELDS Growth and Development Quantitative Macroeconomics Inequality Factor Income Distribution New Technologies Insurance Incentives HIV/AIDS Resource Allocation and Productivity
		DATE: 11 October 2019 (Friday)
		TIME: 4pm - 5.30pm
		VENUE: Meeting Room 5.1, Level 5 School of Economics Singapore Management University 90 Stamford Road Singapore 178903