change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth … shares and in automation capital. Second, we analyse and calibrate a neoclassical growth model extended to include factor … taxation, automation capital, and capital adjustment costs. Labor and automation capital are perfect substitutes whereas labor …

, the International Federation of Robotics, EU KLEMS, and COMTRADE, we study the causal effect of industrial automation on … for top income fractiles. Therefore, industrial automation fuels income inequality and, particularly, top income …

I examine the asset pricing implications of technological innovations that allow capital to displace labor: automation …. In the model, firms optimally adopt technology to gain competitive advantage in the product market. Although automation …