Explaining the decline of China's labor share: A wide replication of Oberfield and Raval (2021)

IF 2.3 3区经济学 Q2 ECONOMICS

Journal of Applied Econometrics Pub Date : 2024-06-30 DOI:10.1002/jae.3082

Hong Yang, Wen Zhang

引用次数: 0

Abstract

China's labor share has declined since late 1990s. Using the methodology developed by Oberfield and Raval, this paper estimates China's aggregate capital-labor elasticity of substitution, leveraging the estimated micro-level elasticities. The findings indicate that China's aggregate capital-labor elasticity falls within the range of 0.9 to 1. Utilizing this estimated aggregate elasticity for labor share decomposition, we find that the bias of technical change emerges as the predominant factor driving the decline in labor share.

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解释中国劳动力份额的下降：奥伯菲尔德和拉瓦尔（2021 年）的广泛复制

自 20 世纪 90 年代末以来，中国的劳动力比重有所下降。本文采用 Oberfield 和 Raval 开发的方法，利用估算的微观弹性，估算了中国的总资本-劳动替代弹性。结果表明，中国的总资本-劳动弹性在 0.9 至 1 之间。利用这一估算的总弹性进行劳动份额分解，我们发现技术变革的偏差成为推动劳动份额下降的主要因素。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Applied Econometrics Multiple-

CiteScore

3.70

自引率

4.80%

发文量

期刊介绍： The Journal of Applied Econometrics is an international journal published bi-monthly, plus 1 additional issue (total 7 issues). It aims to publish articles of high quality dealing with the application of existing as well as new econometric techniques to a wide variety of problems in economics and related subjects, covering topics in measurement, estimation, testing, forecasting, and policy analysis. The emphasis is on the careful and rigorous application of econometric techniques and the appropriate interpretation of the results. The economic content of the articles is stressed. A special feature of the Journal is its emphasis on the replicability of results by other researchers. To achieve this aim, authors are expected to make available a complete set of the data used as well as any specialised computer programs employed through a readily accessible medium, preferably in a machine-readable form. The use of microcomputers in applied research and transferability of data is emphasised. The Journal also features occasional sections of short papers re-evaluating previously published papers. The intention of the Journal of Applied Econometrics is to provide an outlet for innovative, quantitative research in economics which cuts across areas of specialisation, involves transferable techniques, and is easily replicable by other researchers. Contributions that introduce statistical methods that are applicable to a variety of economic problems are actively encouraged. The Journal also aims to publish review and survey articles that make recent developments in the field of theoretical and applied econometrics more readily accessible to applied economists in general.