Tag Archives: Labor Share

Pareto and Piketty: The Macroeconomics of Top Income and Wealth Inequality

From Chad Jones: Since the early 2000s, research by Thomas Piketty, Emmanuel Saez, and their coathors has revolutionized our understanding of income and wealth inequality. In this paper, I highlight some of the key empirical facts from this research and … Continue reading

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Capital Depreciation and Labor Shares Around the World: Measurement and Implications

From Loukas Karabarbounis and Brent Neiman: The labor share is typically measured as compensation to labor relative to gross value added (“gross labor share”), in part because gross value added is more directly measured than net value added. Labor compensation relative … Continue reading

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The Decline of the U.S. Labor Share – Comments

Comments from Brent Neiman on work by Michael Elsby, Bart Hobijn, and Aysegul Sahin. See here and here for old posts on this issue.

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Weekend Readings

1. Taxation and Saving – A Retrospective from Alan Auerbach 2. All men are created unequal – the economist on Piketty’s new book 3. Dealing with the Financial Crisis and the Recession from Brad Delong 4. The return of “patrimonial capitalism”: review of … Continue reading

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How to do a Job Market Spiel? Be Justin Wolfers

I was looking up a paper on declining labor shares to prepare for interviews and came across these 90 second paper pitches by Justin Wolfers and realized that they are great demonstrations of how to do a job market spiel (see here, here, … Continue reading

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The Declining U.S. Labor Share

See here for more info from this paper by Bart Hobijn and Aysegul Sahin.

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The Rise of Gross Operating Surplus in Manufacturing since 1960

Gross operating surplus, which is roughly value added less labor compensation, input costs, and production taxes, has increased substantially in the manufacturing sector since 1980. Gross operating surplus includes consumption of fixed capital (CFC), proprietors’ income, and corporate profits. Note that this measure is … Continue reading

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