We analyze the effects of R&D-driven automation on economic growth, education, and inequality when high-skilled workers are complements to machines and low-skilled workers are substitutes for machines. The model predicts that innovation-driven growth leads to an increasing population share of...

The economic impact of Artificial Intelligence (AI) is studied using a (semi) endogenous growth model with two novel features. First, the task approach from labor economics is reformulated and integrated into a growth model. Second, the standard representative household assumption is rejected,...

Entrepreneurship in advanced economies is in decline. This comes as a surprise: many scholars have anticipated an upsurge in entrepreneurship, and expected an "entrepreneurial economy" to replace the post-WW2 "managed" economy. Instead of the "entrepreneurial economy" what has come into being...

We propose a measure of well-being efficiency to assess countries' ability to transform inputs into subjective well-being (Cantril ladder). We use the six inputs (real GDP per capita, healthy life expectancy, social support, freedom of choice, absence of corruption, and generosity) identified in...

We propose a novel framework that integrates the "task approach" for a more precise production modeling into the search-and-matching model with low- and high-skilled workers, and wage setting by labor unions. We establish the relationship between task reallocation and changes in wage pressure,...

This paper models and estimates total factor productivity (TFP) growth parametrically. The model is a generalization of the traditional production model where technology is represented by a time trend. TFP growth is decomposed into unobservable technical change, scale economies and observable...

Occupations and sectors are the two fundamental dimensions of structural change. From the evolution of the high/low-skill employment levels and wage ratio, we can understand which sectors have been undertaking a process of technical change. By using Eu-Silc database we investigate four...

As far as standard measures of income inequality are concerned, the Nordic countries rank among the most equal economies in the world. This paper studies whether and how this picture changes when the focus is on inequality of income composition, meaning the heterogeneity in individuals' factor...

This paper examines the determinants of the income share of wage earners in the nonfinancial, private sectors of Greece since its introduction to the Eurozonein 1999. The main outcome of the integration of Greece into the Eurozone has been the financialisation of its economy, which has been...

Okun's law is an extremely influential parameter in empirical research and policy analysis, based on the sizable number of estimates from this perspective. Nevertheless, it is also subject to considerable heterogeneity. We first show graphical and statistical evidence on the existence of a high...