This open access book encompasses a collection of in-depth analyses showcasing the challenges and ways forward for macroeconomic modelling of R&D and innovation policies. Based upon the proceedings of the EC-DG JRC-IEA workshop held in Brussels in 2017, it presents cutting-edge contributions...

This note examines Thomas Piketty’s (2014) explanation and prediction of simultaneously rising capital income ratio and profit share by an elasticity of substitution, σ, greater than one between labor and capital in an aggregate production function. Semieniuk reviews Piketty’s elasticity...

We introduce the Global Consumption and Income Project (GCIP), which is developing two separate datasets (The Global Consumption Dataset (GCD) and The Global Income Dataset (GID)) containing an unprecedented portrait of consumption and income of persons over time, within and across countries,...

This note examines Thomas Piketty's (2014) explanation and prediction of simultaneously rising capital income ratio and profit share by an elasticity of substitution, sigma, greater than one between labor and capital in an aggregate production function. I review Piketty's elasticity argument,...