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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

Experimentation, Patents, and Innovation

Acemoglu, Daron - 2015

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the … allocation of resources by encouraging rapid experimentation and efficient ex post transfer of knowledge across firms. Each firm … project to implement. A successful innovation can be copied by other firms. Symmetric equilibria (where actions do not depend …

Persistent link: https://www.econbiz.de/10012707491