The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is … largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In … contrast, this paper explicitly deals with the long-run consequences of institutional shocks on capital formation and …

the aggregate capital stock. Using more than one million firm-year observations of small and medium European firms between … 2003 and 2018, this paper introduces new stylized facts on how firms’ relative demand for labor and capital evolved as … their capital structure adjusted to the events of the 2008 crisis. It also provides the first micro-level evidence that …

The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is … largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In … contrast, this paper explicitly deals with the long-run consequences of institutional shocks on capital formation and …

We study the effects of robot exposure on worker flows in 16 European countries between 1998-2017. Overall, we find … driver of cross-country differences: the effects of robot exposure are generally larger in absolute terms in countries with …, robot exposure had a beneficial effect on transitions. Our results imply that robot adoption increased employment and …