中文摘要：

摘要：劳动收入份额是理解国民收入分配格局的关键。文章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。研究结果为正确理解中国劳动收入份额时变性提供新的参考。

英文摘要：

The labor share is the key to understand the national income distribution pattern. In this paper, we utilize the time- varying 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 distortion is the residual of actual and theory labor share. The empirical results find that, the theory labor share is the determinant of actual labor share in the long-running, and they show the consistent trend. However, the market distortions are the deciding factors 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 under- standing the China＇s time-varying labor share.