% ============================================================================ % UQO Working Paper No. 24 — From Labor to Capital: AGI, General Equilibrium, % and Asset Valuation (Simon-Pierre Boucher) % Preamble = UQO template (HARMONISATION.md) + amsthm environments % ============================================================================ \documentclass[12pt,letterpaper]{article} \usepackage[utf8]{inputenc} \usepackage[T1]{fontenc} \usepackage[english]{babel} \usepackage[letterpaper,top=1in,bottom=1in,left=1in,right=1in]{geometry} \usepackage{mathptmx} \usepackage{microtype} \usepackage{setspace} \onehalfspacing \usepackage{amsmath,amssymb,amsthm} \usepackage{mathtools} \theoremstyle{plain} \newtheorem{proposition}{Proposition} \newtheorem{lemma}{Lemma} \newtheorem{corollary}{Corollary} \newtheorem{theorem}{Theorem} \newtheorem{conjecture}{Conjecture} \theoremstyle{definition} \newtheorem{assumption}{Assumption} \newtheorem{definition}{Definition} \newtheorem{premise}{Premise} \theoremstyle{remark} \newtheorem{remark}{Remark} \newtheorem{example}{Example} \usepackage{booktabs} \usepackage{tabularx} \usepackage{multirow} \usepackage{threeparttable} \usepackage{longtable} \usepackage{siunitx} \sisetup{input-symbols = {()}, table-format = -1.3, parse-numbers = false} \usepackage{graphicx} \graphicspath{{figures/}} \usepackage{subcaption} \usepackage{float} \usepackage{placeins} \usepackage[dvipsnames]{xcolor} \usepackage[colorlinks=true,linkcolor=NavyBlue,citecolor=NavyBlue,urlcolor=NavyBlue,breaklinks=true]{hyperref} \usepackage[authoryear,round,semicolon]{natbib} \bibliographystyle{aer} \usepackage[font=small,labelfont=bf,labelsep=period,justification=justified,singlelinecheck=false]{caption} \usepackage{fancyhdr} \pagestyle{fancy} \fancyhf{} \renewcommand{\headrulewidth}{0pt} \fancyfoot[C]{\thepage} \usepackage{titlesec} \titleformat{\section}{\large\bfseries}{\thesection.}{0.5em}{} \titleformat{\subsection}{\normalsize\bfseries}{\thesubsection.}{0.5em}{} \titleformat{\subsubsection}{\normalsize\itshape}{\thesubsubsection.}{0.5em}{} \usepackage[toc,page]{appendix} \usepackage{enumitem} \setlist{nosep,leftmargin=*} % --- notation macros (shared with docs/model_dictionary.md) \newcommand{\CEU}{\mathrm{CEU}} \newcommand{\CEUt}{\widetilde{\mathrm{CEU}}} \newcommand{\E}{\mathbb{E}} \newcommand{\R}{\mathbb{R}} \newcommand{\Qt}{\widetilde{Q}} \newcommand{\dd}{\mathrm{d}} \DeclareMathOperator*{\argmax}{arg\,max} % ============================================================================ % METADATA % ============================================================================ \newcommand{\WPnumber}{24} \newcommand{\WPtitle}{From Labor to Capital} \newcommand{\WPsubtitle}{Artificial General Intelligence, General Equilibrium, and Asset Valuation} \newcommand{\WPdate}{October 2026} \newcommand{\WPversion}{1.0} \newcommand{\WPabstract}{% \input{sections/abstract}% } \newcommand{\WPkeywords}{artificial general intelligence, task-based automation, labor share, compute capital, asset pricing, wealth distribution, land rents, energy constraints} \newcommand{\WPjel}{E22, E24, E25, G12, J23, J24, O33, O41} \newcommand{\WPauthor}{Simon-Pierre Boucher} \newcommand{\WPaffiliation}{% Département des sciences administratives\\ Université du Québec en Outaouais% } \newcommand{\WPemail}{simon-pierre.boucher@uqo.ca} \newcommand{\WPaddress}{% Gatineau -- Pavillon Alexandre-Taché\\ 283, boulevard Alexandre-Taché\\ Gatineau, Québec, Canada J9A 1L8% } \hypersetup{pdftitle={From Labor to Capital: Artificial General Intelligence, General Equilibrium, and Asset Valuation}, pdfauthor={Simon-Pierre Boucher}} % --- Generated numbers (scripts/50_tables.py -> paper/tables/numbers.tex) \input{tables/numbers} \input{tables/fallbacks} \begin{document} \input{sections/titlepage} \input{sections/introduction} \input{sections/literature} \input{sections/benchmark} \input{sections/model} \input{sections/households} \input{sections/assetpricing} \input{sections/theory} \input{sections/calibration} \input{sections/results} \input{sections/robustness_policy} \input{sections/empirical} \input{sections/conclusion} \newpage \bibliography{references} \newpage \begin{appendices} \renewcommand{\thetable}{\Alph{section}\arabic{table}} \renewcommand{\thefigure}{\Alph{section}\arabic{figure}} \setcounter{table}{0}\setcounter{figure}{0} \input{appendix/proofs} \input{appendix/algorithms} \input{appendix/extra_results} \input{appendix/data} \input{appendix/replication} \end{appendices} \end{document}