the marginal product and wages of lower-skill teachers …

unemployment rates for both groups. The paper provides some evidence that there has been a change in the composition of jobs in the …

This paper develops the thesis that credit market frictions may be an important contributor to high unemployment in … market imperfections, so unemployment rises and remains high for an extended period. The data show that there has not been … cause of the increase in European unemployment, they may have played some role in limiting European employment growth …

We summarize a framework for the study of the implications of automation and AI on the demand for labor, wages, and … in tasks that it used to perform. This displacement effect tends to reduce the demand for labor and wages. But it is … effects are incomplete. Even when they are strong, automation in- creases output per worker more than wages and reduce the …