文章基本信息

标题：The productivity slowdown and the declining labor share: a neoclassical exploration
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作者：Gene M. Grossman ; Elhanan Helpman ; Ezra Oberfield 等
期刊名称：CEP Discussion Paper
出版年度：2017
卷号：2017
语种：English
出版社：Centre for Economic Performance
摘要：We explore the possibility that a global productivity slowdown is responsible for the widespread decline in the labor share of national income. In a neoclassical growth model with endogenous human capital accumulation a la Ben Porath (1967) and capital-skill complementarity a la Grossman et al. (2017), the steady-state labor share is positively correlated with the rates of capital-augmenting and labor-augmenting technological progress. We calibrate the key parameters describing the balanced growth path to U.S. data for the early post-war period and find that a one percentage point slowdown in the growth rate of per capita income can account for between one half and all of the observed decline in the US labor share.
关键词：neoclassical growth;balanced growth;technological progress;capital-skill complementarity;labor share;capital share