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We construct a dynamic general equilibrium model with occupation mobility, human capital accumulation and endogenous assignment of workers to tasks to quantitatively assess the aggregate impact of automation and other task-biased technological innovations. We extend recent quantitative general...
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A simple classical-Marxian model of growth and distribution is developed in which education transforms low-skilled workers into high-skilled ones and in which high-skilled workers save and hold capital, therefore receiving both high-skilled wages and profit income. We analyze the implications...
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We study the interactions between technological innovation, investment in human capital and child labor. In our setting … firms decide on innovation, then households decide on education. In equilibrium the presence of inefficient child labor … on child labor are welfare reducing, while a subsidy to innovation is the right tool to eliminate child labor and …
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Europe will be challenged by demographic changes over the next few decades, even under favourable assumptions about fertility and migration, but the economic effects are not yet fully understood. This paper studies the effects of population ageing on economic growth, capital deepening and...
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