distribution and growth. The focus is on the effects of changes in distribution between shareholders/rentiers, firms and workers …, as well as on the effects of increasing "shareholder value orientation" of management's investment decisions. An isolated … increase in the "shareholder value orientation" of management's investment decisions has a uniquely negative effect on capacity …

We introduce a new suite of macroeconomic models that extend and complement the Debt, Investment, and Growth (DIG …'s properties by analyzing the growth, debt, and distributional consequences of big-push public investment programs with different … mixes of investment in human capital and infrastructure. We show that investment in human capital is much more effective …

The Italian economy performs well below the EU average. The reason is a dramatic and persistent low rate of investment …, always invoked but never supported by national and supra-national institutions. However, investment to increase the quantity … and quality of human capital is key to boost economic growth and cannot be achieved without adequate financial resources …

We study the effects of time-using rent-seeking activities on the macroeconomic allocation and the economic growth rate … ensures that the model features endogenous growth. The rewards to rent-seeking accrue during youth and part of the additional …-seeking increases the steady-state economic growth rate in the benchmark model. We identify three main mechanisms affecting the growth …

Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the …