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Acemoglu, Daron - 2002

much less, in (continental) Europe over the same time period. I review the two most popular explanations for these … differential trends: that relative supply of skills increased faster in Europe, and that European labor market institutions … where labor market institutions creating wage compression in Europe also encourage more investment in technologies …

Persistent link: https://www.econbiz.de/10012469883

Diversity and Technological Progress

Acemoglu, Daron - 2011

This paper proposes a tractable model to study the equilibrium diversity of technological progress and shows that equilibrium technological progress may exhibit too little diversity (too much conformity), in particular, foregoing socially beneficial investments in "alternative" technologies that...

Persistent link: https://www.econbiz.de/10012461673

Mirage on the Horizon : Geoengineering and Carbon Taxation Without Commitment

Acemoglu, Daron - 2018

We show that, in a model without commitment to future policies, geoengineering breakthroughs can have adverse environmental and welfare effects because they change the (equilibrium) carbon taxes. In our model, energy producers emit carbon, which creates a negative environmental externality, and...

Persistent link: https://www.econbiz.de/10012453303

Tasks, Automation, and the Rise in US Wage Inequality

Acemoglu, Daron; Restrepo, Pascual - National Bureau of Economic Research - 2021

We document that between 50% and 70% of changes in the US wage structure over the last four decades are accounted for by the relative wage declines of worker groups specialized in routine tasks in industries experiencing rapid automation. We develop a conceptual framework where tasks across a...

Persistent link: https://www.econbiz.de/10012585404

The Simple Macroeconomics of AI

Acemoglu, Daron - National Bureau of Economic Research - 2024

This paper evaluates claims about large macroeconomic implications of new advances in AI. It starts from a task-based model of AI's effects, working through automation and task complementarities. So long as AI's microeconomic effects are driven by cost savings/productivity improvements at the...

Persistent link: https://www.econbiz.de/10014544765

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

Equilibrium Bias of Technology

Acemoglu, Daron - 2005

The study of the bias of new technologies is important both as part of the analysis of the nature of technology adoption and the direction of technological change, and to understand the distributional implications of new technologies. In this paper, I analyze the equilibrium bias of technology....

Persistent link: https://www.econbiz.de/10012466826

Changes in the Wage Structure, Family Income, and Children's Education

Acemoglu, Daron - 2000

We exploit the changes in the distribution of family income to estimate the effect of parental resources on college education. Our strategy exploits the fact that families at the bottom of the income distribution were much poorer in the 1990s than they were in the 1970s, while the opposite is...

Persistent link: https://www.econbiz.de/10012470752

Economic Backwardness in Political Perspective

Acemoglu, Daron - 2002

We construct a simple model where political elites may block technological and institutional development, because of a 'political replacement effect'. Innovations often erode elites' incumbency advantage, increasing the likelihood that they will be replaced. Fearing replacement, political elites...

Persistent link: https://www.econbiz.de/10012469884

The Rise and Decline of General Laws of Capitalism

Acemoglu, Daron; Robinson, James A. - 2014

Thomas Piketty's (2014) book, Capital in the 21st Century, follows in the tradition of the great classical economists, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We argue that general economic laws are unhelpful as a guide...

Persistent link: https://www.econbiz.de/10012457900