A vast literature seeks to measure and explain the apparent decline in the labor share in
national income that has occurred in recent times in the United States and elsewhere. The …

From the Industrial Revolution to the age of artificial intelligence, The Technology Trap takes
a sweeping look at the history of technological progress and how it has radically shifted the …

Many technological innovations replace workers with machines, but this capital-labor
substitution need not reduce aggregate labor demand because it simultaneously induces …

The fall of labor's share of GDP in the United States and many other countries in recent
decades is well documented but its causes remain uncertain. Existing empirical …

Rising profitability and market valuations of US businesses, sluggish wage growth and a
declining labor share of income, and reduced unemployment and inflation, have defined the …

Comparing US gross domestic product to the sum of measured payments to labor and
imputed rental payments to capital results in a large and volatile residual or “factorless” …

While economic theory suggests a wide range of potential determinants of income
inequality, there is little consensus regarding the most relevant ones. Such a lack of …

This article reviews economic research on business taxation, with a focus on corporate
income taxation. We discuss what this research can contribute to current debates about …

Exploiting a new global macro-historical database of effective tax rates, we uncover an
intriguing pro-tax-capacity effect of international trade. While effective capital tax rates have …

We take a fresh look at the aggregate and distributional effects of policies to liberalize
international capital flows—financial globalization. Both country‐and industry‐level results …