TY  - SER
AU  - Karabarbounis, Loukas
TI  - Perspectives on the Labor Share
SN  - 0895-3309
PB  - Journal of Economic Perspectives
KW  -  Economic Impacts of Globalization: Macroeconomic Impacts
KW  -  Factor Income Distribution
KW  -  Macroeconomics: Production
KW  - Aggregate Factor Income Distribution
N2  - As of 2022, the share of US income accruing to labor is at its lowest level since the Great Depression. Updating previous studies with more recent observations, I document the continuing decline of the labor share for the United States, other countries, and various industries. I discuss how changes in technology and product, labor, and capital markets affect the trend of the labor share. I also examine its relationship with other macroeconomic trends, such as rising markups, higher concentration of economic activity, and globalization. I conclude by offering some perspectives on the economic and policy implications of the labor share decline
UR  - https://www.aeaweb.org/articles?id=10.1257/jep.38.2.107
ER  -