The Cobb-Douglas Production Function and the Old Bowley's Law

• Published in: Symmetry, Integrability and Geometry: Methods and Applications
• Date: 2024
• Main Authors: Smirnov, Roman G., Wang, Kunpeng
• Format: Article
• Language: English
• Published: Інститут математики НАН України 2024
• Online Access: https://nasplib.isofts.kiev.ua/handle/123456789/212262
• Journal Title: Digital Library of Periodicals of National Academy of Sciences of Ukraine
• Cite this: The Cobb-Douglas Production Function and the Old Bowley's Law. Roman G. Smirnov and Kunpeng Wang. SIGMA 20 (2024), 045, 20 pages

Bowley's law, also referred to as the law of the constant wage share, was a noteworthy empirical finding in economics, suggesting that a nation's wage share tended to remain stable over time, as observed through most of the 20th century. The wage share represents the proportion of a countr...