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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, Human Capital and Development

Acemoglu, Daron - 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

Democracy Does Cause Growth

Acemoglu, Daron - 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

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

Why Do Firms Train? Theory and Evidence

Acemoglu, Daron; Pischke, Jörn-Steffen - 2021

This paper offers and tests a theory of training whereby workers do not pay for general training they receive. The crucial ingredient in our model is that the current employer has superior information about the worker's ability relative to other firms. This informational advantage gives the...

Persistent link: https://www.econbiz.de/10013231422