Related papers: Cognitive Aging and Labor Share
AI generates both enthusiasm and disillusionment, with promises that often go unfulfilled. It is therefore not surprising that human labor, which is its fundamental component, is also subject to these same deceptions. The development of…
By borrowing methods from complex system analysis, in this paper we analyze the features of the complex relationship that links the development and the industrialization of a country to economic inequality. In order to do this, we identify…
Artificial intelligence (AI) is reshaping the labor market by changing the task content of occupations. This study investigates the impact of AI development on the emergence of new work, employment, and wages in the United States from 2015…
We consider the problem of optimal annuitization with labour income, where an agent aims to maximize utility from consumption and labour income under age-dependent force of mortality. Using a dynamic programming approach, we derive…
The integration of Artificial General Intelligence (AGI) into economic production represents a transformative shift with profound implications for labor markets, income distribution, and technological growth. This study extends the Constant…
Generative artificial intelligence (AI) is expected to transform work, but less is known about how firms reorganize labor demand as the technology diffuses. Existing research has largely focused on which occupations are exposed to AI or…
With rising life expectancies around the world and an older scientific workforce than ever before, what does aging mean for individual scientists, and what do aging scientists mean for scientific progress as a whole? Here we examine how…
The emergence of Artificial General Intelligence (AGI) labor, including AI agents and autonomous systems operating at near-zero marginal cost, reduces the marginal productivity of human labor, ultimately pushing wages toward zero. As AGI…
A natural intuition about the economics of AI agents is that, because agents can be replicated at very low marginal cost, agent labor may be supplied highly elastically, placing downward pressure on cognitive-labor wages when it closely…
Our computational economic analysis investigates the relationship between inequality, mobility and the financial accumulation process. Extending the baseline model by Levy et al., we characterise the economic process through stylised return…
The welfare of modern societies has been intrinsically linked to wage labour. With some exceptions, the modern human has to sell her labour-power to be able reproduce biologically and socially. Thus, a lingering fear of technological…
Generative AI is altering work processes, task composition, and organizational design, yet its effects on employment and the macroeconomy remain unresolved. In this review, we synthesize theory and empirical evidence at three levels. First,…
Future advances in AI that automate away human labor may have stark implications for labor markets and inequality. This paper proposes a framework to analyze the effects of specific types of AI systems on the labor market, based on how much…
Labor productivity was studied at the microscopic level in terms of distributions based on individual firm financial data from Japan and the US. A power-law distribution in terms of firms and sector productivity was found in both countries'…
Tis paper is a literature review focusing on human capital, skills of employees, demographic change, management, training and their impact on productivity growth. Intrafirm behaviour has been recognized as a potentially important driver for…
The article examines how institutions, automation, unemployment and income distribution interact in the context of a neoclassical growth model where profits are interpreted as a surplus over costs of production. Adjusting the model to the…
The emergence of artificial intelligence and robotics is catalyzing a profound transformation in the nature of human labor, fueling a contentious debate about the future of employment. While prominent studies predict substantial job…
Aging, as defined in terms of the slope of the probability of death versus time (hazard curve), is a generic phenomenon observed in nearly all complex systems. Theoretical models of aging predict hazard curves that monotonically increase in…
Economic issues, such as inflation, energy costs, taxes, and interest rates, are a constant presence in our daily lives and have been exacerbated by global events such as pandemics, environmental disasters, and wars. A sustained history of…
Measured aggregate productivity and the income share of top earners are strongly and positively correlated in the Canadian data. Productivity slowdown since the early 2000s was accompanied with a flattening income share of top earners.…