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Research literature, 1 records found
Research literature 1 records found  
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33 p, 361.6 KB Factor shares, the price markup, and the elasticity of substitution between capital and labor / Raurich, Xavier (Universitat de Barcelona) ; Sala Lorda, Hèctor (Universitat Autònoma de Barcelona. Departament d'Economia Aplicada) ; Sorolla, Valeri ; Universitat Autònoma de Barcelona. Departament d'Economia Aplicada
In a Walrasian labor market, the labor income share is constant under the assumptions of a Cobb-Douglas production function and perfect competition. Given the observed decline of the labor share in recent decades, this paper relaxes these assumptions, proposes a time-series calculation of the aggregate price mark-up reflecting the degree of imperfect competition in the product market, and provides estimates of the elasticity of substitution under such product market imperfections. [...]
Universitat Autònoma de Barcelona. Departament d'Economia Aplicada 2011 (Document de treball (Universitat Autònoma de Barcelona. Departament d'Economia Aplicada) ; 1109)  

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