🗊Презентация Cobb Douglas: Capital and Labor Shares in the United States

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Cobb Douglas: Capital and Labor Shares in the United States, слайд №1Cobb Douglas: Capital and Labor Shares in the United States, слайд №2Cobb Douglas: Capital and Labor Shares in the United States, слайд №3Cobb Douglas: Capital and Labor Shares in the United States, слайд №4

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Слайд 1





Cobb Douglas:
Capital and Labor Shares 
in the United States
Xavier Sala-i-Martin
Columbia University
Описание слайда:
Cobb Douglas: Capital and Labor Shares in the United States Xavier Sala-i-Martin Columbia University

Слайд 2





The COBB-DOUGLAS Production Function 

The Cobb-Douglas production function is a good approximation to the U.S. Economy because the share of GDP that is appropriated by capitalists is CONSTANT over the long run. In fact, it is fairly close to 30%.
The share appropriated by workers is also constant at about 70%.
Описание слайда:
The COBB-DOUGLAS Production Function The Cobb-Douglas production function is a good approximation to the U.S. Economy because the share of GDP that is appropriated by capitalists is CONSTANT over the long run. In fact, it is fairly close to 30%. The share appropriated by workers is also constant at about 70%.

Слайд 3


Cobb Douglas: Capital and Labor Shares in the United States, слайд №3
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Слайд 4





Note:
Notice that, over the short run, the shares move a little -for example, the labor share increased a lot during the great depression, as capitalists lost a lot of income, but over the long run, they remain fairly stable.
Описание слайда:
Note: Notice that, over the short run, the shares move a little -for example, the labor share increased a lot during the great depression, as capitalists lost a lot of income, but over the long run, they remain fairly stable.



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