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I examine the asset pricing implications of technological innovations that allow capital to displace labor: automation …. In the model, firms optimally adopt technology to gain competitive advantage in the product market. Although automation …
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This study builds on Autor and Dorn's (2013) classification of automatable work at the three-digit occupation code level to identify additional jobs that will be automatable in the next decade by drawing on patent data. Based on this new classification the study provides estimates of the share...
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