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Automation, Human Task Innovation, and Labor Share: Unveiling the Role of Elasticity of Substitution

Baek, Seungjin; Jeong, Deokjae - 2023

This paper investigates the elements contributing to the change in labor share, with a specific focus on the roles of ‘automation’ and ‘innovation in human tasks.’ We construct a general equilibrium model that distinctly incorporates both robot and non-robot capital to derive an...

Persistent link: https://www.econbiz.de/10015213930

Automation, Human Task Innovation, and Labor Share: Unveiling the Role of Elasticity of Substitution

Jeong, Deokjae; Baek, Seungjin; Peri, Giovanni - 2024

Persistent link: https://www.econbiz.de/10015214061

Automation, Human Task Innovation, and Labor Share: Unveiling the Role of Elasticity of Substitution

Jeong, Deokjae; Baek, Seungjin; Peri, Giovanni - 2024

This study examines the declining trend in global labor share across countries and sectors, focusing on the roles of robotic innovation (RI) and human innovation (HI). To address potential endogeneity, we construct instrumental variables using US patent data and large language models,...

Persistent link: https://www.econbiz.de/10015214116

Automation, Human Task Innovation, and Labor Share: Unveiling the Role of Elasticity of Substitution

Jeong, Deokjae; Baek, Seungjin; Peri, Giovanni - 2024

This study examines the global decline in labor share since the 2005, focusing on the impacts of robotic and human innovation within a general equilibrium framework. Using novel shift-share variables ---operational robot data, patent similarity to automation vocabularies, and cognitive task...

Persistent link: https://www.econbiz.de/10015214166

Automation, Human Task Innovation, and Labor Share: Unveiling the Role of Elasticity of Substitution

Jeong, Deokjae; Baek, Seungjin - 2023

Persistent link: https://www.econbiz.de/10015214167

Automation, Human Task Innovation, and Labor Share: Unveiling the Role of Elasticity of Substitution

Jeong, Deokjae; Baek, Seungjin - 2023

Persistent link: https://www.econbiz.de/10015214218

Economic Inequality Exacerbated by Economic Rents from Exploitative Contracting

Harashima, Taiji - 2020

According to contract theory, exploitative contracting probably exists widely and on a large scale, and it generates …

Persistent link: https://www.econbiz.de/10015224959

The optimal rate of inequality: A framework for the relationship between income inequality and economic growth

Charles-Coll, Jorge A. - 2010

This paper contributes to the debate over the relationship between inequality and growth by proposing that the disparities in empirical studies derive from the fact that they have not accounted for the level of inequality as a factor that can affect the sign of the relationship. An inverted...

Persistent link: https://www.econbiz.de/10015225679

On two theories of value and distribution

Naqvi, Nadeem - 2011

This paper compares the theory of value and distribution of Arrow and Debreu [1954] with that of Sraffa [1960]. I … variables. In terms of entailments, in Sraffa's theory there is an insufficiency of determinants in the economic grounds of … society, rendering this theory purely economic, rather than political-economic, as in Sraffa. Both the information content …

Persistent link: https://www.econbiz.de/10015229693

The mightier, the stingier: Firms’ market power, capital intensity, and the labor share of income

Adrjan, Pawel - 2018

What determines the proportion of a firm’s income that workers receive as compensation? This paper uses longitudinal firm data from a period of substantial labor share variation to understand the firm-level determinants of the labor share of income—a question that has so far only been...

Persistent link: https://www.econbiz.de/10015258901