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Automation and Rent Dissipation : Implications for Wages, Inequality, and Productivity

Acemoglu, Daron; Restrepo, Pascual - National Bureau of Economic Research - 2024

This paper studies the effects of automation in economies with labor market distortions that generate worker rents--wages above opportunity cost--in some jobs. We show that automation targets high-rent tasks, dissipating rents and amplifying wage losses from automation. It also reduces...

Persistent link: https://www.econbiz.de/10014576564

Sharing a Government

Ventura, Jaume - 2019

This paper develops a simple theoretical framework to study a set of regions, each with its own regional government, who share a union or central government. These governments must decide whether to implement or discard a large number of projects that produce local benefits for the region that...

Persistent link: https://www.econbiz.de/10012480087

Liquidity and Governance

Back, Kerry - 2013

Is greater trading liquidity good or bad for corporate governance? We address this question both theoretically and … information concerns her own plans for taking an active role in governance. We show that an increase in the liquidity of the firm … governance. Empirical tests using three distinct sources of exogenous variation in liquidity confirm the negative relation …

Persistent link: https://www.econbiz.de/10012458993

The governance of not-for-profit organizations

Glaeser, Edward L. (ed.) - 2003

Persistent link: https://www.econbiz.de/10013480759

How Does Expropriation Risk Affect Innovation?

Benavente H., José Miguel; Bravo Ortega, Claudio; … - National Bureau of Economic Research - 2024

We analyze how expropriation risk reduces incentives for innovation and reallocates resources from the innovative sector, building on Romer's(1990) model. Our framework predicts the R&D expenditure, the share of human capital in R&D, the number of patents, technical progress, and economic growth...

Persistent link: https://www.econbiz.de/10014512142

The Labor Demand and Labor Supply Channels of Monetary Policy

Graves, Sebastian; Huckfeldt, Christopher K.; Swanson, … - National Bureau of Economic Research - 2023

Monetary policy is conventionally understood to influence labor demand, with little effect on labor supply. We estimate the response of labor market flows to high-frequency changes in interest rates around FOMC announcements and Fed Chair speeches and find that, in contrast to the consensus...

Persistent link: https://www.econbiz.de/10014421195

Time Use and Macroeconomic Uncertainty

Cacciatore, Matteo; Hauser, Daniela; Gnocchi, Stefano - National Bureau of Economic Research - 2023

We study the effects of uncertainty on time use and their macroeconomic implications. Employing data from the American Time Use Survey and the Bureau of Labor Statistics, we document that heightened uncertainty increases housework and reduces market work hours, mildly impacting leisure. We then...

Persistent link: https://www.econbiz.de/10014447275

Labor Market Externalities of Pre-retirement Employment Protection

Chrostek, Paweł; Karbownik, Krzysztof; Myck, Michał - National Bureau of Economic Research - 2024

Using population-level administrative data, we study labor market externalities stemming from age-specific employment protection legislation (EPL) targeted towards older workers. Our results show no economically meaningful overall effects of the EPL on employment or earnings of either men or...

Persistent link: https://www.econbiz.de/10014528410

Who Values Human Capitalists' Human Capital? The Earnings and Labor Supply of U.S. Physicians

Gottlieb, Joshua D.; Polyakova, Maria; Rinz, Kevin; … - National Bureau of Economic Research - 2023

Is government guiding the invisible hand at the top of the labor market? We use new administrative data to measure physicians' earnings and estimate the influence of healthcare policies on these earnings, physicians' labor supply, and allocation of talent. Combining the administrative registry...

Persistent link: https://www.econbiz.de/10014322856

Instrumental Variables with Unordered Treatments : Theory and Evidence from Returns to Fields of Study

Heinesen, Eskil; Hvid, Christian; Kirkebøen, Lars J.; … - National Bureau of Economic Research - 2022

We revisit the identification argument of Kirkeboen et al. (2016) who showed how one may combine instruments for multiple unordered treatments with information about individuals' ranking of these treatments to achieve identification while allowing for both observed and unobserved heterogeneity...

Persistent link: https://www.econbiz.de/10013435136