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Finding Eldorado : slavery and long-run development in Colombia

Acemoglu, Daron; García Jimeno, Camilo; Robinson, James A. - 2012

Slavery has been a major institution of labor coercion throughout history. Colonial societies used slavery intensively … across the Americas, and slavery remained prevalent in most countries after independence from the European powers. We … investigate the impact of slavery on long-run development in Colombia. Our identification strategy compares municipalities that …

Persistent link: https://www.econbiz.de/10009573288

What does human capital do? : a review of Goldin and Katz’s The Race between Education and Technology

Acemoglu, Daron; Autor, David H. - 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/10009488819

The race between machine and man : implications of technology for growth, factor shares and employment

Acemoglu, Daron; Restrepo, Pascual - 2016

We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and...

Persistent link: https://www.econbiz.de/10011573063

Modeling automation

Acemoglu, Daron; Restrepo, Pascual - 2018

This paper points out that modeling automation as factor-augmenting technological change has several unappealing implications. Instead, modeling it as the process of machines replacing tasks previously performed by labor is both descriptively realistic and leads to distinct and empirically...

Persistent link: https://www.econbiz.de/10011797210

Demographics and automation

Acemoglu, Daron; Restrepo, Pascual - 2018

We argue theoretically and document empirically that aging leads to greater (industrial) automation, and in particular, to more intensive use and development of robots. Using US data, we document that robots substitute for middle-aged workers (those between the ages of (36 and 55). We then show...

Persistent link: https://www.econbiz.de/10011820230

Mirage on the horizon : geoengineering and carbon taxation without commitment

Acemoglu, Daron; Rafey, Will - 2018

We show that, in a model without commitment to future policies, geoengineering breakthroughs can have adverse environmental and welfare effects because they change the (equilibrium) carbon taxes. In our model, energy producers emit carbon, which creates a negative environmental externality, and...

Persistent link: https://www.econbiz.de/10011820231

The Rise and Decline of General Laws of Capitalism

Acemoglu, Daron; Robinson, James A. - 2014

Thomas Piketty's (2013) book, Capital in the 21st Century, follows in the tradition of the great classical economists, like Marx and Ricardo, in formulating general laws of capitalism to diagnose and predict the dynamics of inequality. We argue that general economic laws are unhelpful as a guide...

Persistent link: https://www.econbiz.de/10013040288

Capital Deepening and Non-Balanced Economic Growth

Acemoglu, Daron; Guerrieri, Veronica - 2007

This paper constructs a model of non-balanced economic growth. The main economic force is the combination of differences in factor proportions and capital deepening. Capital deepening tends to increase the relative output of the sector with a greater capital share, but simultaneously induces a...

Persistent link: https://www.econbiz.de/10014056429

Diversity and Technological Progress

Acemoglu, Daron - 2014

This paper proposes a tractable model to study the equilibrium diversity of technological progress and shows that equilibrium technological progress may exhibit too little diversity (too much conformity), in particular foregoing socially beneficial investments in “alternative” technologies...

Persistent link: https://www.econbiz.de/10014183116

When Does Labor Scarcity Encourage Innovation?

Acemoglu, Daron - 2015

This paper studies the conditions under which the scarcity of a factor (in particular, labor) encourages technological progress and technology adoption. In standard endogenous growth models, which feature a strong scale effect, an increase in the supply of labor encourages technological...

Persistent link: https://www.econbiz.de/10014209516