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Payroll Share, Real Wage and Labor Productivity Across US States
States can be sorted into two groups with statistically significantly different productivity regimes. In this sense, the US economy shows signs of dualism—which is the idea that the economy consists of heterogeneous units that exhibit different behaviors and levels of performance.
Payroll Share, Real Wage and Labor Productivity across US States
This paper analyzes regional contributions to the US payroll share from 1977 to 2017 and the four major business cycles throughout this period.