This paper advances our understanding of the transformative role of innovation in labor share dynamics over recent decades of rapid technological evolution. We introduce a novel methodology to disentangle the direction and substitution effects of technological change, drawing on comprehensive...

This paper presents results of a meta-regression analysis on empirical estimates of capital-energy substitution. Theoretically it is clear that a distinction should be made between Morishima substitution elasticities and cross-price elasticities. The former represent purely technical...

We develop a model of directed technological change, frictional unemployment and migration to examine the effects of a change in skill endowments on wages, employment rates and emigration rates of skilled and unskilled workers. We find that, depending on the elasticity of substitution between...

This paper studies the links between non-renewable and intermittent renewable energy sources in the production of electricity. We argue that the relationship between the price of natural gas and investments in solar and wind capacity is represented by a bell-shaped curve, as opposed to being...

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...

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...

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,...

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...

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...

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...