The impact of raising the US investment rate on the wage of low-educated labor

Article Abstract:

A phased rise in gross domestic investment in the United States of 20% (from 15% to 18%) would result in a 4.3% rise in real wages for labour with low educational achievement, with wages down by 4.7% relative to high-educated labor, following a high investment pattern instead of a low investment course. Real wage elasticity for low-educated labor is positive in relation to capital, though less than elasticity for high-educated labour. The analysis used a translog production function with three factors.

Investment advice, Measurement, Compensation and benefits, Investments, Employee training

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Conversion to a consumption tax in a growth model with heterogeneity

Article Abstract:

Aggregate saving of households is proven to be increased by a conversion from an income tax to a progressive consumption tax regime due to 'heterogeneity.' Aggregate saving increases are possible even if the propensity to save remains constant because conversion shifts disposable income within each income class from low savers to high savers. Applications to US data show that short-run saving rate increases 4.23% and long-run saving rate increases by 7.29%.

Research, Savings, Income tax

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Customer flows, countercyclical markups, and the output effects of technology shocks

Article Abstract:

Customer flow dynamics may become a powerful amplification mechanism of technology shock effects on output. Numerical data suggest that transitory technology shocks can produce effects on the output of an economy with customer flow dynamics by a factor as high as nine than that of an economy in a purely competitive setting.

Industrial productivity

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