share of national income. In a neoclassical growth model with endogenous human capital accumulation à la Ben Porath (1967 …) and capital-skill complementarity à la Grossman et al. (2017), the steady-state labor share is positively correlated with … the rates of capital-augmenting and labor-augmenting technological progress. We calibrate the key parameters describing …

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 …

Evidence for the United States suggests balanced growth despite falling investment-good prices and less than unitary … elasticity of substitution between capital and labor. This is inconsistent with the Uzawa Growth Theorem. We extend Uzawa …'s theorem to show that introducing human capital accumulation in the standard way does not resolve the puzzle. However, balanced …

We introduce permanently-shifting income shares into a standard growth model with two types of agents. Capital owners … replicate the observed U.S. time paths of the top quintile income share, capital’s share of income, and key macroeconomic … variables over the period 1970 to 2013. For the baseline simulation, the welfare gain for capital owners is 3.7% of per …

transfers over this period is taken into account. We show that the increase in capital's share of total income and the presence … of capital-entrepreneurial skill complementarity are two key features that help support the wages of ordinary workers as …

balancing investment incentives with allocative efficiency and competition objectives. Intermediate regulation is compatible … regulation and efficient investment is thus in doubt. Incentive regulation for regular infrastructure investments therefore needs …

exhibits constant returns to scale in capital and labor. This insight provides an understanding for why technical change is … labor-augmenting in steady state even if capital-augmenting technical change is feasible. By example, this point is made for … three recent growth models that allow for endogenous capital- and labor-augmenting technical change, namely, Irmen (2013 …

-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy’s steady state growth …

sectors and differences in factor proportions and capital deepening. This paper documents that there have also been … differential trends in labor and capital income shares across sectors in the U.S. and in a broad set of other industrialized … economies, and shows that a model where the degree of capital-labor substitutability differs across sectors is consistent with …