Abstract
This note demonstrates that it is still possible to identify the economy's technology from national income accounting data when wages are set through a bargaining process rather than the usual competitive mechanism. Applying the method to US data, we obtain that the output elasticity with respect to capital exceeds 0.5.
| Original language | English |
|---|---|
| Pages (from-to) | 1329-1334 |
| Number of pages | 6 |
| Journal | Journal of Macroeconomics |
| Volume | 30 |
| Issue number | 3 |
| DOIs | |
| State | Published - Sep 2008 |
Bibliographical note
Funding Information:We are thankful to the DFG for financial support through the SFB 649. The comments of a referee have greatly helped us to clarify our point.
Keywords
- Factor shares
- Nash bargaining
ASJC Scopus subject areas
- Economics and Econometrics