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accumulation of human capital. Based on a perpetual inventory estimation procedure we construct an aggregate measure of the stock …
Persistent link: https://www.econbiz.de/10010440426
This paper uses a large language model to develop an ex-ante measure of the commercial potential of scientific findings. In addition to validating the measure against the typical holdout sample, we validate it externally against 1.) the progression of scientific findings through a major...
Persistent link: https://www.econbiz.de/10014512116
We develop measures of labor-saving and labor-augmenting technology exposure using textual analysis of patents and job tasks. Using US administrative data, we show that both measures negatively predict earnings growth of individual incumbent workers. While labor-saving technologies predict...
Persistent link: https://www.econbiz.de/10014436977
analysis to decompose patent data in different digital technologies for various countries into global and country …
Persistent link: https://www.econbiz.de/10014279279
We offer a barrier model of growth with a broader understanding of the sources of productivity growth. Organizational … more on own productivity improvements through organizational change. Trade liberalization in backward economies does not … give the expected boost to productivity growth, because of low capability to take advantage of the frontier technology …
Persistent link: https://www.econbiz.de/10011533799
Germany remains Europe's largest and most diversified source of new technology, but still lags in the fastest growing areas of today's high technology. After World War II, West-German technology policy sought to rebuild the institutions which had supported Germany's leadership in the high-tech...
Persistent link: https://www.econbiz.de/10011495600
knowledge, the productivity growth experienced during the Industrial Revolution would have eventually diminished, as did growth … from previous productivity revolutions (i.e. agriculture, expansions of trade). Yet scientific knowledge, as distinct from … technology or economic productivity, is often not explicitly included in models of long run growth. Making this distinction …
Persistent link: https://www.econbiz.de/10012729451
Recent development and growth accounting studies have established that total factor productivity is an important source …, within the Cobb-Douglas framework, it weighs evidence of the two alternative explanations of total factor productivity …
Persistent link: https://www.econbiz.de/10012777854
There is much we do not know and cannot know about the socioeconomic impacts of intelligent machines. The impacts will be driven by business strategies that differ by sector and country. “Good jobs” strategies are possible. It is important to identify and strengthen the factors, including...
Persistent link: https://www.econbiz.de/10012867404
We extend the conventional Solow growth accounting model to allow innovation to affect consumer welfare directly. Our model is based on Lancaster’s New Approach to Consumer Theory, in which there is a separate “consumption technology� that transforms the produced goods,...
Persistent link: https://www.econbiz.de/10012853832