relative to their productivity and the effective cost of capital in low-complexity tasks. Minimum wages and other sources of … of capital (or an increase in capital productivity) causes employment and wage polarization. Specifically, further … increases in capital productivity ultimately induce a transition to low-skill automation and qualitatively alter the effects of …

We introduce a dynamic panel threshold model to shed new light on the impact of inflation on long-term economic growth … industrialized countries, our results confirm the inflation targets of about 2% set by many central banks. For non …-industrialized countries, we estimate that inflation hampers growth if it exceeds 17%. Below this threshold, however, the impact of inflation …