In Capital in the 21st Century, Thomas Piketty uses the market value of tradeable assets to measure both productive … capital and wealth. As a measure of wealth this is problematic because it ignores the value of human capital and transfer … assets. The approach also incorrectly identifies capital gains due to reduced discount rates as increases in the capital …

The importance of financial markets and international capital flows have increased greatly since the 1990s. How does …

We use the World Bank Investment Climate Surveys data to analyze the employment of both labor and capital in Indian … relationship to both (i) institutional constraints, and (ii) productivity …

total factor productivity (TFP) and static measures of capital misallocation within a country. Using data on 5 … between productivity volatility and the dispersion of the marginal revenue product of capital (static capital misallocation …,010 establishments in 33 developing countries from the World Bank's Enterprise Research Data, we find that countries exhibiting greater …

In this paper, we extend the growth model to include firm-specific technology capital and use it to assess the gains … from opening to foreign direct investment. A firm's technology capital is its unique know-how from investing in research … and development, brands, and organization capital. What distinguishes technology capital from other forms of capital is …

external finance, facilitating the formation of new establishments, and improving the efficiency of capital allocation across … overall financial development boost industry growth, new establishment formation, and efficient capital allocation, having a …

information technology and the computer age, induced firms to shift away from labor and toward capital. The lower price of … influencing factor shares such as increasing profits, capital-augmenting technology growth, and the changing skill composition of …

This review essay of the two-volume Cambridge History of Capitalism (2014), edited by Larry Neal and Jeffrey G … economists to add depth to their understanding of the world economy today. Robert C. Allen analyzes the world distribution of … criticize the definition of capitalism used in these volumes as too expansive to be useful. I argue that this definition mars …

Thomas Piketty's (2014) book, Capital in the 21st Century, follows in the tradition of the great classical economists …, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We …