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70 years of US corporate profits

Journal of Corporate Finance 2024 87, 102622 open access
We construct and compare aggregate measures of profits for the U.S. non-financial corporate sector over the period 1946–2016. The measures commonly show that the profit share is declining from 1946 to the early 1980s and has been increasing since. As a share of gross value added, profits today are higher than they were in 1984, but lower than their value in the years after World War II.