1% ============================================================================2% UQO Working Paper No. 24 — From Labor to Capital: AGI, General Equilibrium,3% and Asset Valuation (Simon-Pierre Boucher)4% Preamble = UQO template (HARMONISATION.md) + amsthm environments5% ============================================================================6\documentclass[12pt,letterpaper]{article}78\usepackage[utf8]{inputenc}9\usepackage[T1]{fontenc}10\usepackage[english]{babel}11\usepackage[letterpaper,top=1in,bottom=1in,left=1in,right=1in]{geometry}12\usepackage{mathptmx}13\usepackage{microtype}14\usepackage{setspace}15\onehalfspacing16\usepackage{amsmath,amssymb,amsthm}17\usepackage{mathtools}18\theoremstyle{plain}19\newtheorem{proposition}{Proposition}20\newtheorem{lemma}{Lemma}21\newtheorem{corollary}{Corollary}22\newtheorem{theorem}{Theorem}23\newtheorem{conjecture}{Conjecture}24\theoremstyle{definition}25\newtheorem{assumption}{Assumption}26\newtheorem{definition}{Definition}27\newtheorem{premise}{Premise}28\theoremstyle{remark}29\newtheorem{remark}{Remark}30\newtheorem{example}{Example}31\usepackage{booktabs}32\usepackage{tabularx}33\usepackage{multirow}34\usepackage{threeparttable}35\usepackage{longtable}36\usepackage{siunitx}37\sisetup{input-symbols = {()}, table-format = -1.3, parse-numbers = false}38\usepackage{graphicx}39\graphicspath{{figures/}}40\usepackage{subcaption}41\usepackage{float}42\usepackage{placeins}43\usepackage[dvipsnames]{xcolor}44\usepackage[colorlinks=true,linkcolor=NavyBlue,citecolor=NavyBlue,urlcolor=NavyBlue,breaklinks=true]{hyperref}45\usepackage[authoryear,round,semicolon]{natbib}46\bibliographystyle{aer}47\usepackage[font=small,labelfont=bf,labelsep=period,justification=justified,singlelinecheck=false]{caption}48\usepackage{fancyhdr}49\pagestyle{fancy}50\fancyhf{}51\renewcommand{\headrulewidth}{0pt}52\fancyfoot[C]{\thepage}53\usepackage{titlesec}54\titleformat{\section}{\large\bfseries}{\thesection.}{0.5em}{}55\titleformat{\subsection}{\normalsize\bfseries}{\thesubsection.}{0.5em}{}56\titleformat{\subsubsection}{\normalsize\itshape}{\thesubsubsection.}{0.5em}{}57\usepackage[toc,page]{appendix}58\usepackage{enumitem}59\setlist{nosep,leftmargin=*}6061% --- notation macros (shared with docs/model_dictionary.md)62\newcommand{\CEU}{\mathrm{CEU}}63\newcommand{\CEUt}{\widetilde{\mathrm{CEU}}}64\newcommand{\E}{\mathbb{E}}65\newcommand{\R}{\mathbb{R}}66\newcommand{\Qt}{\widetilde{Q}}67\newcommand{\dd}{\mathrm{d}}68\DeclareMathOperator*{\argmax}{arg\,max}6970% ============================================================================71% METADATA72% ============================================================================73\newcommand{\WPnumber}{24}74\newcommand{\WPtitle}{From Labor to Capital}75\newcommand{\WPsubtitle}{Artificial General Intelligence, General Equilibrium, and Asset Valuation}76\newcommand{\WPdate}{October 2026}77\newcommand{\WPversion}{1.0}78\newcommand{\WPabstract}{%79 \input{sections/abstract}%80}81\newcommand{\WPkeywords}{artificial general intelligence, task-based automation, labor share, compute capital, asset pricing, wealth distribution, land rents, energy constraints}82\newcommand{\WPjel}{E22, E24, E25, G12, J23, J24, O33, O41}83\newcommand{\WPauthor}{Simon-Pierre Boucher}84\newcommand{\WPaffiliation}{%85 Département des sciences administratives\\86 Université du Québec en Outaouais%87}88\newcommand{\WPemail}{simon-pierre.boucher@uqo.ca}89\newcommand{\WPaddress}{%90 Gatineau -- Pavillon Alexandre-Taché\\91 283, boulevard Alexandre-Taché\\92 Gatineau, Québec, Canada J9A 1L8%93}94\hypersetup{pdftitle={From Labor to Capital: Artificial General Intelligence, General Equilibrium, and Asset Valuation}, pdfauthor={Simon-Pierre Boucher}}9596% --- Generated numbers (scripts/50_tables.py -> paper/tables/numbers.tex)97\input{tables/numbers}98\input{tables/fallbacks}99100\begin{document}101\input{sections/titlepage}102\input{sections/introduction}103\input{sections/literature}104\input{sections/benchmark}105\input{sections/model}106\input{sections/households}107\input{sections/assetpricing}108\input{sections/theory}109\input{sections/calibration}110\input{sections/results}111\input{sections/robustness_policy}112\input{sections/empirical}113\input{sections/conclusion}114115\newpage116\bibliography{references}117118\newpage119\begin{appendices}120\renewcommand{\thetable}{\Alph{section}\arabic{table}}121\renewcommand{\thefigure}{\Alph{section}\arabic{figure}}122\setcounter{table}{0}\setcounter{figure}{0}123\input{appendix/proofs}124\input{appendix/algorithms}125\input{appendix/extra_results}126\input{appendix/data}127\input{appendix/replication}128\end{appendices}129\end{document}130