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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

Institutions Rule : The Primacy of Institutions Over Geography and Integration in Economic Development

Rodrik, Dani; Subramanian, Arvind; Trebbi, Francesco - 2021

We estimate the respective contributions of institutions, geography, and trade in determining income levels around the world, using recently developed instruments for institutions and trade. Our results indicate that the quality of institutions trumps' everything else. Once institutions are...

Persistent link: https://www.econbiz.de/10013224849

Where Did All the Growth Go? External Shocks, Social Conflict, and Growth Collapses

Rodrik, Dani - 2022

This paper argues that domestic social conflicts are a key to understanding why growth rates lack persistence and why so many countries have experienced a growth collapse after the mid-1970s. It emphasizes conflicts interact with external shocks on the one hand, and the domestic institutions of...

Persistent link: https://www.econbiz.de/10013322113

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

Institutions, Human Capital and Development

Acemoglu, Daron; Gallego, Francisco A.; Robinson, James A. - 2016

In this paper we revisit the relationship between institutions, human capital and development. We argue that empirical models that treat institutions and human capital as exogenous are misspecified both because of the usual omitted variable bias problems and because of differential measurement...

Persistent link: https://www.econbiz.de/10013006662

Reevaluating the Modernization Hypothesis

Acemoglu, Daron; Johnson, Simon; Robinson, James A.; … - 2021

This paper revisits and critically reevaluates the widely-accepted modernization hypothesis which claims that per capita income causes the creation and the consolidation of democracy. We argue that existing studies find support for this hypothesis because they fail to control for the presence of...

Persistent link: https://www.econbiz.de/10013224429

Trade Policy and Economic Growth : a Skeptic'S Guide to Cross-National Evidence

Rodriguez, Francisco; Rodrik, Dani - 2021

Do countries with lower policy-induced barriers to international trade grow faster, once other relevant country characteristics are controlled for? There exists a large empirical literature providing an affirmative answer to this question. We argue that methodological problems with the empirical...

Persistent link: https://www.econbiz.de/10013229058