The Measurement of Labour Content: a General Approach

Authors

Naoki Yoshihara, Department of Economics, University of Massachusetts, AmherstFollow
Roberto Veneziani, School of Economics and Finance, Queen Mary University of LondonFollow

Working Paper Number

2017-14

Publication Date

2017

Abstract

This paper analyses the theoretical issues related to the measurement of labour content for general technologies with heterogeneous labour. A novel axiomatic framework is used in order to formulate the key properties of the notion of labour content and analyse its theoretical foundations. The main measures of labour content used in various strands of the literature are then characterised. Quite surprisingly, a unique axiomatic structure can be identified which underlies measures of labour aggregates used in such diverse fields as neoclassical growth theory, input-output approaches, productivity analysis, and classical political economy.

DOI

https://doi.org/10.7275/10782362

License

UMass Amherst Open Access Policy

Recommended Citation

Yoshihara, Naoki and Veneziani, Roberto, "The Measurement of Labour Content: a General Approach" (2017). UMass Amherst Economics Working Papers. 230.
https://doi.org/10.7275/10782362