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, as a technology platform, can automate tasks previously performed by labor or create new tasks and activities in which …
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slower growth of employment over the last three decades is accounted for by an acceleration in the displacement effect …
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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...
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further predicts that the induced adoption of automation technology should be more pronounced in industries that rely more on … aging are ambiguous when technology responds to demographic change, but we should expect productivity to increase and labor …
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