To what extent can technological advances in the production of capital account for the recent, worldwide decline in the … (EOS) between capital and labor tend to fall below or around one, suggesting that a decline in the price of capital should … of capital relative to output has remained roughly constant, worldwide. This poses a challenge to the view that cheaper …

This paper considers a two sectors heterogeneous firms model where firms' specific production technology and capital … is followed by the entrance of new firms characterized by higher capital intensity of production and lower labor income … enter the market with higher capital intensity. Furthermore, firms-level data are used to show that the labor share is …

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 …

Capital estimates are widely used in economic growth and productivity studies, for profitability considerations and … wealth accounting exercises. Yet the calculation of "capital" frequently receives only cursory attention, despite the …) calculates long-run provincial (and national) physical capital series for China, (ii) distinguishes between capital services and …

fabrication functions. Relatively capital abundant countries integrate more into forward GVCs linkages, which is associated with … greater upstreamness within GVCs and increases in capital intensity. Forward GVC integration is associated with international …

develop a methodology to separately account for robots in the total capital stock. Increases in upstream, forward GVC …

The value of the elasticity of substitution between labor and capital (ó) is a "crucial" assumption in the study of …

Custom software is distinct from other types of capital in that it is non-rival—once a firm makes an investment in … total capital expenditure. We explain these empirical patterns by developing a model that incorporates the non-rivalry of …