Oxford Events, the new replacement for OxTalks, will launch on 16th March. From now until the launch of Oxford Events, new events cannot be published or edited on OxTalks while all existing records are migrated to the new platform. The existing OxTalks site will remain available to view during this period.
From 16th, Oxford Events will launch on a new website: events.ox.ac.uk, and event submissions will resume. You will need a Halo login to submit events. Full details are available on the Staff Gateway.
Capital in modern economies increasingly takes the form of intangible capital, whose formation heavily depends on the contributions of specialized workers—such as inventors, managers, and entrepreneurs. To examine the macroeconomic implications of this fact, we develop and calibrate a general neoclassical model where capital formation requires both investment goods (tangible investments) and specialized labor (intangible investments). We show that rising intangibles renders the supply of capital more inelastic owing to the limited supply of specialized labor. Rising intangibles also change the incidence of capital taxation: whereas in traditional neoclassical models the tax burden falls entirely on production workers, in intangible economies, it is borne primarily by specialized workers and capital owners.
