This article reviews the literature on automation and its impact on labor markets, wages,
factor shares, and productivity. I first introduce the task model and explain why this …

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 …

We document that between 50% and 70% of changes in the US wage structure over the last
four decades are accounted for by relative wage declines of worker groups specialized in …

For the first time in history, the globe is dominated by one economic system. Capitalism
prevails because it delivers prosperity and meets desires for autonomy. But it also is …

The most commonly used measure of a country's economic activity and the overall well-
being is gross domestic product (GDP). 1 It gauges the magnitude of economic production …

To identify the role of digital skill in the skill-biased technological changes caused by
artificial intelligence, this study estimates the impacts of displacement risk on occupational …

The paper investigates the relationship between compositional inequality (how the shares of
capital and labor income vary along income distribution) and inter-personal income …

Polarization is the structural phenomenon observed over the last three decades where
wages and employment of high-and low-skill labor rise relative to middle-skilled labor …

While the US labor share has declined, especially in manufacturing and retail, the labor
share of a typical firm in these sectors has risen. This paper introduces a model where firms …

The carbon emissions trading scheme (ETS), which restricts carbon emission permit
allowances, affects firms' decisions on labor and capital use in production. Taking China's …