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

While the GDP was intended by its originators as a measure of production, the absence of a
measure of welfare in the national accounts has led to widespread misuse of the GDP to …

The labor share is defined as the share of value added which is payed out to workers. It is
therefore often also called the wage share. Generally it is assumed that value added is …

We investigate the hypothesis that macroeconomic fluctuations are primitively the results of
many microeconomic shocks. We define fundamental volatility as the volatility that would …

We investigate whether the downward trend in the wage share is driven by technological
change or a decline in labour's bargaining power. We present an econometric analysis …

Can artificial intelligence (AI) raise productivity? If we regard AI as a combination of software,
hardware, and database use, then it can be modelled as a combination of the deployment of …

Using new international comparable data on intangible capital investment by business
within a panel analysis between 1998 and 2005 in an EU country sample, a positive and …

Purpose This paper aims to revisit the relationship between intangible capital and labour
productivity growth using the largest, up-to-date macro database (2000–2015) available to …

This paper uses an innovation-based taxonomy of both manufacturing and service
industries to assess the role of the process of structural change of the last 25 years on the …

Applying the methods of growth accounting decomposition and econometric regressions to
a sample of developed economies over the period of 1970–2011, this study examines the …