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Financiers vs. Engineers : Should the Financial Sector be Taxed or Subsidized?

Philippon, Thomas - 2007

I study the allocation of human capital in an economy with production externalities, financial constraints and career … choices. Agents choose to become entrepreneurs, workers or financiers. Entrepreneurship has positive externalities, but …

Persistent link: https://www.econbiz.de/10012465087

Health Care, Technological Change, and Altruistic Consumption Externalities

Philipson, Tomas - 2006

Traditional economic analysis has proposed well known remedies to deal with consumption externalities and inefficient … of R&D and consumption externalities is central to health care industries around the world generally, and for the … problems in isolation are inefficient -- Pigouvian corrections to consumption externalities are inefficient under technological …

Persistent link: https://www.econbiz.de/10012466741

Technical Change, Inequality, and the Labor Market

Acemoglu, Daron - 2000

This essay discusses the effect of technical change on wage inequality. I argue that the behavior of wages and returns to schooling indicates that technical change has been skill-biased during the past sixty years. Furthermore, the recent increase in inequality is most likely due to an...

Persistent link: https://www.econbiz.de/10012470950

Technological Change, the Labor Market and the Stock Market

Manuelli, Rodolfo E. - 2000

This paper presents a model in which a partially anticipated technological shock results, in the short-run, in lower investment and higher unemployment. Because of the expectation of future lower profits, the market value of existing firms --and the wages they pay-- decrease before the...

Persistent link: https://www.econbiz.de/10012470709

Technology, Unemployment, and Relative Wages in a Global Economy

Davis, Donald R. - 1996

Arguably the most important development in recent decades in US factor markets is the decline in the relative wage of the unskilled. By contrast, in Europe it is undoubtedly the rise and persistence of unemployment. Technology has been identified as a key reason for the rising US wage...

Persistent link: https://www.econbiz.de/10012473209

Labor Market Shocks and the Demand for Trade Protection : Evidence from Online Surveys

Tella, Rafael Di - 2019

We study preferences for government action in response to layoffs resulting from different types of labor-market shocks. We consider the following shocks: technological change, a demand shift, bad management, and three kinds of international outsourcing. Respondents are given a choice among no...

Persistent link: https://www.econbiz.de/10012479656

Skills, Tasks and Technologies : Implications for Employment and Earnings

Acemoglu, Daron - 2010

A central organizing framework of the voluminous recent literature studying changes in the returns to skills and the evolution of earnings inequality is what we refer to as the canonical model, which elegantly and powerfully operationalizes the supply and demand for skills by assuming two...

Persistent link: https://www.econbiz.de/10012462573

Technology Shocks and Aggregate Fluctuations : How Well Does the RBS Model Fit Postwar U.S. Data?

Gali, Jordi - 2004

Our answer: not so well. We reach that conclusion after reviewing recent research on the role of technology as a source of economic fluctuations. The bulk of the evidence suggests a limited role for aggregate technology shocks, pointing instead to demand factors as the main force behind the...

Persistent link: https://www.econbiz.de/10012468056

US-Europe Differences in Technology-Driven Growth : Quantifying the Role of Education

Krueger, Dirk - 2003

European economic growth has been weak, compared to the US, since the 80s. In previous work (Krueger and Kumar, 2003), we argued that the European focus on specialized, vocational education might have been effective during the 60s and 70s, but resulted in a growth gap relative to the US during...

Persistent link: https://www.econbiz.de/10012468711

Arbeitsmarktchancen durch Digitalisierung

Bock-Schappelwein, Julia; Famira-Mühlberger, Ulrike; … - Österreichisches Institut für Wirtschaftsforschung - 2017

Persistent link: https://www.econbiz.de/10011790576

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