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What Does Human Capital Do? A Review of Goldin and Katz's the Race between Education and Technology

Acemoglu, Daron - 2012

Goldin and Katz's The Race between Education and Technology is a monumental achievement that supplies a unified framework for interpreting how the demand and supply of human capital have shaped the distribution of earnings in the U.S. labor market over the 20th century. This essay reviews the...

Persistent link: https://www.econbiz.de/10013110940

Secular Stagnation? The Effect of Aging on Economic Growth in the Age of Automation

Acemoglu, Daron - 2017

Several recent theories emphasize the negative effects of an aging population on economic growth, either because of the … lower labor force participation and productivity of older workers or because aging will create an excess of savings over … anything, countries experiencing more rapid aging have grown more in recent decades. We suggest that this counterintuitive …

Persistent link: https://www.econbiz.de/10012964893

Turbulence, Firm Decentralization and Growth in Bad Times

Aghion, Philippe - 2017

What is the optimal form of firm organization during “bad times”? We present a model of delegation within the firm to show that the effect is ambiguous. The greater turbulence following macro shocks may benefit decentralized firms because the value of local information increases (the...

Persistent link: https://www.econbiz.de/10012957377

Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments

Baker, Scott R. - 2014

A growing body of evidence suggests that uncertainty is counter cyclical, rising sharply in recessions and falling in booms. But what is the causal relationship between uncertainty and growth? To identify this we construct cross country panel data on stock market levels and volatility as proxies...

Persistent link: https://www.econbiz.de/10013062729

Does uncertainty reduce growth? : using disasters as natural experiments

Baker, Scott; Bloom, Nicholas - 2013

Persistent link: https://www.econbiz.de/10010191904

Turbulence, firm decentralization and growth in bad times

Aghion, Philippe; Bloom, Nicholas; Lucking, Brian; … - 2017

Persistent link: https://www.econbiz.de/10011668680

Are ideas getting harder to find?

Bloom, Nicholas; Jones, Charles I.; Van Reenen, John; … - 2017

Persistent link: https://www.econbiz.de/10011737751

Are ideas getting harder to find?

Bloom, Nicholas; Jones, Charles I.; Van Reenen, John; … - 2017 - September 6, 2017 - Version 1.0

Persistent link: https://www.econbiz.de/10011775704

Are Ideas Getting Harder to Find?

Bloom, Nicholas - 2017

In many growth models, economic growth arises from people creating ideas, and the long-run growth rate is the product of two terms: the effective number of researchers and their research productivity. We present a wide range of evidence from various industries, products, and firms showing that...

Persistent link: https://www.econbiz.de/10012948079

Democracy Does Cause Growth

Acemoglu, Daron; Naidu, Suresh; Restrepo, Pascual; … - 2014

. These results are confirmed when we use a semiparametric propensity score matching estimator to control for GDP dynamics. We …

Persistent link: https://www.econbiz.de/10013056591