explain them. We then describe a theoretical framework of endogenous markups, innovation, and competition that can potentially …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …

We investigate the impact of investment in automation-related goods on adopting and non-adopting firms in the Italian … of Italian importing firms and estimate the effects on adopters' outcomes within a difference-indifferences design … exploiting import lumpiness in product categories linked to automation and AI technologies. We find a positive average adoption …

a sample of advanced economies. Institutions explain a substantial proportion of cross-country variation in automation … vulnerable to holdup. This suggests that automation is used by producers as a tool to thwart rent appropriation by labor. …

processes? The present paper addresses this question in a new macroeconomic model of automation where competitive firms perform … and substitute for labor in the performance of tasks. Automation is labor-augmenting in the reduced-form aggregate … though the aggregate production function is Cobb-Douglas. Population aging due to a higher longevity reduces automation in …

created. In a static version where capital is fixed and technology is exogenous, automation reduces employment and the labor … capital accumulation and the direction of research towards automation and the creation of new tasks. If the long-run rental … rate of capital relative to the wage is sufficiently low, the long-run equilibrium involves automation of all tasks …

We provide an argument for long-term automation and decline in the labor income share, driven by capital accumulation … rescaled in the same way. Then ongoing capital accumulation gives rise to progressive automation, and the share of labor income …