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Acemoglu, Daron - 2021

much less, in (continental) Europe over the same time period. I review the two most popular explanations for these … differential trends: that relative supply of skills increased faster in Europe, and that European labor market institutions … where labor market institutions creating wage compression in Europe also encourage more investment in technologies …

Persistent link: https://www.econbiz.de/10013246486

Mirage on the Horizon : Geoengineering and Carbon Taxation Without Commitment

Acemoglu, Daron - 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/10012924470

Technical Change, Inequality, and the Labor Market

Acemoglu, Daron - 2011

This essay discusses the effect of technical change on wage inequality. I argue that the behavior of wages and returns to schooling indicates that technical change has been skill-biased during the past sixty years. Furthermore, the recent increase in inequality is most likely due to an...

Persistent link: https://www.econbiz.de/10013126042

Changes in the Wage Structure, Family Income, and Children'S Education

Acemoglu, Daron; Pischke, Jörn-Steffen - 2021

We exploit the changes in the distribution of family income to estimate the effect of parental resources on college education. Our strategy exploits the fact that families at the bottom of the income distribution were much poorer in the 1990s than they were in the 1970s, while the opposite is...

Persistent link: https://www.econbiz.de/10013230970

Equilibrium Bias of Technology

Acemoglu, Daron - 2021

The study of the bias of new technologies is important both as part of the analysis of the nature of technology adoption and the direction of technological change, and to understand the distributional implications of new technologies. In this paper, I analyze the equilibrium bias of technology....

Persistent link: https://www.econbiz.de/10013228055

Economic Backwardness in Political Perspective

Acemoglu, Daron; Robinson, James A. - 2021

We construct a simple model where political elites may block technological and institutional development, because of a 'political replacement effect'. Innovations often erode elites' incumbency advantage, increasing the likelihood that they will be replaced. Fearing replacement, political elites...

Persistent link: https://www.econbiz.de/10013246644

Capital Deepening and Non-Balanced Economic Growth

Acemoglu, Daron - 2010

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/10012760696

The Rise and Decline of General Laws of Capitalism

Acemoglu, Daron - 2014

Thomas Piketty's (2014) 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/10013039764

Distance to Frontier, Selection, and Economic Growth

Acemoglu, Daron; Aghion, Philippe; Zilibotti, Fabrizio - 2021

We analyze an economy where managers engage both in the adaptation of technologies from the world frontier and in innovation activities. The selection of high-skill managers is more important for innovation activities. As the economy approaches the technology frontier, selection becomes more...

Persistent link: https://www.econbiz.de/10013233846

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