Board of Governors of the Federal Reserve System

Kaldor's Stylized Facts

1. The shares of national income received by labor and capital are roughly constant over long periods of time.
2. The rate of growth of the capital stock per worker is roughly constant over long periods of time.
3. The rate of growth of output per worker is roughly constant over long periods of time.
4. The capital/output ratio is roughly constant over long periods of time.
5. The rate of return on investment is roughly constant over long periods of time.
6. The real wage grows over time.

Source: Nicholas Kaldor (1957), "A Model of Economic Growth," Economic Journal, vol. 67 (December), pp. 591-624.

U.S. Average Productivity Growth