KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual … property (IP) capital, and traditional capital. I assume that the aggregate output is produced using labor and these three … types of capital and allow for differences in the elasticities of substitution between labor, an aggregate of ICT and IP …

In a neoclassical economy with endogenous capital- and labor-augmenting technical change the steady-state growth rate … of output per worker is shown to increase in the elasticity of substitution between capital and labor. This confirms the …

change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth … shares and in automation capital. Second, we analyse and calibrate a neoclassical growth model extended to include factor … taxation, automation capital, and capital adjustment costs. Labor and automation capital are perfect substitutes whereas labor …

the particular savings hypothesis. However, if savings out of capital income are substantial so that a certain threshold …

Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital …. Traditional capital and labor are imperfect substitutes whereas automation capital and labor are perfect substitutes. In this … contrast to Prettner, we argue that both kinds of capital are perfect substitutes as stores of value, and, therefore, must earn …

the particular savings hypothesis. However, if savings out of capital income are substantial so that a certain threshold …

of immobile residents. Investment is costly: Quadratic installation and de-installation costs limit the mobility of … capital. The paper looks at optimal taxation and long-run growth. In particular, the effects of variations in the cost …

optimal to accompany the decline in labor share by raising capital taxes only if the labor share is falling because of a … institutional arrangements that are relevant for optimal taxation of capital income. A quantitative application to the U.S. economy … shows that soaring profit shares since the 1980's can justify a significantly increasing path of capital income taxes …