Direct and indirect factor income shares at the sectoral level: An alternative method using input-output analysis
1
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
The purpose of the paper is to suggest a method to decompose gross output or total input in an alternative way at aggregate and sectoral levels using elementary input-output analysis. Total input consists of domestic and imported intermediate inputs, and value-added. Domestic intermediate inputs are produced by domestic firms, and thus can, again, be decomposed into the same three components following the input structures of the economy or the industries. The same decomposition can be repeatedly applied, and finally domestic intermediate inputs can be decomposed into ‘indirect’ value-added and imported intermediate inputs. In conclusion, we can decompose gross output into four components, direct and indirect value-added and imports, or equivalently, direct and indirect, domestic and foreign value-added. The results of the paper can be compared among countries, among years, among industries, and among groups of industries, and the results can be used to study the characteristics of the industries, the environment of domestic and global markets, and their changes. We applied the decomposition method proposed in the paper to Korea’s input-output tables for 1970-2019 at aggregate and industry levels.
Abstract
The purpose of the paper is to suggest a method to decompose gross output or total input in an alternative way at aggregate and sectoral levels using elementary input-output analysis. Total input consists of domestic and imported intermediate inputs, and value-added. Domestic intermediate inputs are produced by domestic firms, and thus can, again, be decomposed into the same three components following the input structures of the economy or the industries. The same decomposition can be repeatedly applied, and finally domestic intermediate inputs can be decomposed into ‘indirect’ value-added and imported intermediate inputs. In conclusion, we can decompose gross output into four components, direct and indirect value-added and imports, or equivalently, direct and indirect, domestic and foreign value-added. The results of the paper can be compared among countries, among years, among industries, and among groups of industries, and the results can be used to study the characteristics of the industries, the environment of domestic and global markets, and their changes. We applied the decomposition method proposed in the paper to Korea’s input-output tables for 1970-2019 at aggregate and industry levels.
참고문헌 (18)
- Bentolila, Samuel, "Explaining Movements in the Labor Share", Contributions to Macroeconomics, 3(1) (2003)
- Gollin, Douglas, "Getting income shares right", Journal of Political Economy, 110(2), pp.458~474 (2002)
- International Labor Organization (ILO), "The Global Labor Income Share and Distribution", ~ (2019)
- International Labor Organization (ILO), "The Labour Share in G20Economies", Report Prepared for the G20 Employment Working Group, ~ (2015)
- Im, Yongbin, "Analysis of labor income share using input-output tables", Monthly Labor Review, 186, pp.47~62 (2020)
- Johnson, D. Gale, "The functional distribution of income in the United States, 1850-1952", Review of Economics and Statistics, 35(2), pp.175~182 (1954)
- Joo, Sang-Young, "Measuring labor income share for Korea", Review of Social and Economic Studies, 43, pp.31~65 (2014)
- Kim, Bae-Geun, "What explains movements in the labor income share in the Korean economy?", Economic Analysis, 19(3), pp.1~48 (2013)
- Kim, Dongseok, "Estimating labor income shares at the sectoral level in Korea during 1975-2018 using input-output tables", Journal of Economic Research, 26, pp.1~26 (2021)
- Kim, Dongseok, "New Indicators of Global Integration Using Input-Output Analysis", ~ (2023)
- Krueger, Alan, "Measuring labor’s share", American Economic Review, Papers and Proceedings, 89(2), pp.45~51 (1999)
- Labor income share in Korea: Measuring issues and trends, In Labor Income Share and Economic Inequality, "Lee, Byung-Hee", Korea Labor Institute, ~ (2014)
- "System of National Accounts 2008" (2009)[URL]
- Valentinyi, Ákos, "Measuring factor income shares at the sectoral level", Review of Economic Dynamics, 11, pp.820~835 (2008)
- Young, Andrew T., "One of the things we know that ain’t so : Is US labor’s share relatively stable?", Journal of Macroeconomics, 32, pp.90~102 (2010)
- Zuleta, Hernando, "Labor’s Shares - Aggregate and Industry: Accounting for Both in a Model of Unbalanced Growth with Induced Innovation", University of Mississippi, ~ (2007)
- "Input-Output Tables"[URL]
- "National Account Statistics"[URL]