理论劳动收入份额测度及分解——基于时变弹性生产函数模型

劳动收入份额是理解国民收入分配格局的关键。本文基于时变弹性生产函数模型估计得到理论劳动收入份额，并将实际劳动收入份额分解为为理论劳动收入份额和市场扭曲两个因素。定义劳动收入份额实际值和理论值的差值为市场扭曲。实证研究发现，理论劳动收入份额显示与实际劳动收入份额一致的趋势，是劳动收入份额长期趋势的决定因素；市场扭曲显示与实际劳动收入份额一致的波动，是劳动收入份额短期波动的主要原因；实际劳动工资偏离劳动边际产出，是市场价格扭曲的根本体现。本文研究为正确理解中国劳动收入份额时变性提供新的参考。

Estimation and Decomposition of the Theory Labor Share:Based on the Time-varying Elasticity Production Function Model

The labor share is the key to understand the national income distribution pattern. In this paper, we utilize the timevarying elasticity production function model to estimate the theory labor share, and decompose the actual labor share into theory labor share and market distortions. The market distortions is the residual of actual and theory labor share. The empirical results find that, the theory labor share is the determinants of actual labor share in the long-running, and they show the consistent trend. However, the market distortions are the deciding factor of actual labor share in the short-term, and they show consistent fluctuations. The labor wage deviation from its marginal output is the root cause of market price distortions. This paper provides a new reference for understanding the China's time-varying labor share.