We study the effect of mean-preserving labor reallocation on business cycle outcomes. We develop an empirical … model of the labor market. The model reproduces the empirical results subject to inclusion of two key, empirically plausible …

In a famous paper, Kenneth Sokoloff argued that the labor input of entrepreneurs was generally not included in the … thumb" imputation for the entrepreneurial labor input. Using establishment level manufacturing data from the 1850 …-80 censuses and textual evidence I argue that, contrary to Sokoloff's claim, the census did generally include the labor of …

different nested structures of input factors: capital, labor with or without human capital adjustment, and energy using data for … substitution elasticity between capital and labor for China is below unity. When human capital adjusted labor is used as input … instead of unadjusted raw labor, estimates of substitution elasticity between capital and labor become lower. By considering …

recent robust growth in Aggregate Labor Productivity (ALP) across twenty-five countries is due to lower barriers to input … may be because BHC indices decompose ALP growth using plant-level output-per-labor (OL) as a proxy for the marginal … product of labor and changes in OL as a proxy for changes in plant-level productivity. We provide simple examples to show that …

income may be non-zero, reversing the standard prediction of the Ramsey tax literature. The zero labor tax is an optimal long …. We characterize a class of environments in which the tax on labor goes to zero in the long run, while the tax on capital … sovereign debt constraints. The front loading of labor taxes allows the economy to build a large (aggregate) debt position in …

US can increase tax revenues by 30% by raising labor taxes and by 6% by raising capital income taxes. For the EU-14 we …We compare Laffer curves for labor and capital taxation for the US, the EU-14 and individual European countries, using … obtain 8% and 1%. Dynamic scoring for the EU-14 shows that 54% of a labor tax cut and 79% of a capital tax cut are self …

We study the dynamic taxation of capital and labor in the Ramsey model under the assumption that taxes and public good …

This paper studies the conditions under which the scarcity of a factor (in particular, labor) encourages technological … supply of labor encourages technological progress. In contrast, the famous Habakkuk hypothesis in economic history claims … that technological progress was more rapid in 19th-century United States than in Britain because of labor scarcity in the …