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We construct a new method to describe firm distributions within technology fields and investigate the relationship between those distributions and aggregate innovation. To locate firms in a technology space, we apply multidimensional scaling for inter-firm technological dissimilarity, computed...
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relative to their productivity and the effective cost of capital in low-complexity tasks. Minimum wages and other sources of … of capital (or an increase in capital productivity) causes employment and wage polarization. Specifically, further … increases in capital productivity ultimately induce a transition to low-skill automation and qualitatively alter the effects of …
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impact of AI on jobs, inequality, wages, labor productivity and long-run GDP growth are explored. …
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substitution is low, then GDP, productivity and wage growth may however still slow down, because the economy will then fail to …, productivity, and GDP. …
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In this paper, I study technological change as a candidate for the observed increase in consumption inequality in the United States. I build an incomplete market model with educational choice combined with a task-based model on the production side. I consider two channels through which...
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