expenditures ought to increase because wage incomes typically are associated with higher consumption propensities than capital …

capital accumulation. Further, and across different theoretical approaches, residential investment is seen as a critical …

unitary elasticity between equipment capital and non-routine tasks, equipment capital and routine tasks are highly … document that the fall in relative price of equipment capital alone can explain 72 percent of the observed decline in the U … sensitivities of cost of production to the price of equipment capital …

the role of capital accumulation and market power in explaining this decline. I first estimate the production function of … sectors are estimated below one, implying that capital deepening cannot explain the labor share decline. I then track the long … into sector re-weights, capital-labor substitution, and market power effects. I find that the increase in market power, as …

This paper intends to present a novel perspective on the capital debates. Thomas Piketty, on his book, asserts that the … capital debates were virtually meaningless and the neoclassical side won the debates, and this brought several discussions on …

KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual … property (IP) capital, and traditional capital. I assume that the aggregate output is produced using labor and these three … types of capital and allow for differences in the elasticities of substitution between labor, an aggregate of ICT and IP …

KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual … property (IP) capital, and traditional capital. I assume that the aggregate output is produced using labor and these three … types of capital and allow for differences in the elasticities of substitution between labor, an aggregate of ICT and IP …

recovery (itself driven by changes in capital policies since the world wars) and by the slowdown of productivity and population …-income ratio β is about 300% if g= 3% and 600% if g= 1.5%. Our results have important implications for capital taxation and … regulation and shed new light on the changing nature of wealth, the shape of the production function, and the rise of capital …