forced labor income as capital. The regional distribution of wealth and the effects of the Civil war appear very different if … capital accumulation. Among others, we find that counties with a higher share of enslaved property before the Civil War or …

of substitution between capital and labor is greater than one. However, the vast majority of micro-level estimates shows … that capital and labor are complements (elasticity less than one). Using firm- and establishment-level data from Korea, we … divide capital into equipment and software, as they may interact with labor in different ways. Our estimation shows that …

We study capital-skill complementarity in a multi-sector framework featuring firm-specific, multi-factor production … of capital equipment in terms of firm-level elasticities of substitution across factors, elasticities of substitution …-level elasticities. Combining these elements we offer the first identification of aggregate capital-skill complementarity that allows for …

exposures to NBFI and dollar funding, with less priority for regulations focused on residency (i.e., capital controls). After …

We summarize the economics of recycling municipal solid waste. OECD data suggest that aggregate recycling rates in … member countries have plateaued in recent decades. United States recycling rates for some materials remain low, even after … decades of learning and participation. Major new policies may be required to increase recycling rates. Aggregate recycling …

We show that firms' nominal required returns to capital (i.e., their discount rates) are sticky with respect to …

expansions associated mainly with relaxation of real estate financing (capital investment financing) will be productivity … encourage land speculation using leverage that productive capital investment and economic growth are decreased. Unlike in …