We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG) model widely used at the IMF since 2012. The new DIG-Labor models feature segmented labor markets, efficiency wages and open unemployment, and an informal non-agricultural sector....

This paper empirically analyzes the impact of Chinese minimum wage regulations on the firm decision to invest in physical and human capital. We exploit the geographical and inter-temporal variations of county-level minimum wages in a panel data set of all state-owned and all above-scale...

We examine how division managers' human capital affects internal capital allocation using a hand-collected data set of divisional managers at S&P 1,500 firms. Based on a novel measure of division-manager ability, we show that more able division managers receive substantially larger capital...

Wearables (such as data glasses and smartwatches) are a particularly visible element of Industrie 4.0 applications. They aim at providing situation-specific information to workers, but at the same time they can also be used for surveillance and control because they generate data on the work...

Wearables (such as data glasses and smartwatches) are a particularly visible element of Industrie 4.0 applications. They aim at providing situation-specific information to workers, but at the same time they can also be used for surveillance and control because they generate data on the work...

We assess quantitatively the effect of exogenous health improvements on output per capita. Our simulation model allows for a direct effect of health on worker productivity, as well as indirect effects that run through schooling, the size and age-structure of the population, capital accumulation,...