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result of productivity growth (assumed to reflect automation) and are part of a long-term trend. Since the 1980s, however … capture many factors besides automation, and cautions against using descriptive evidence to draw causal inferences. It also … employment in the 2000s, but finds little evidence of a causal link to automation. …
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The decline in the U.S. labor share is far from uniform across firms. While the aggregate labor share has declined, especially in manufacturing, retail, and wholesale, the labor share of a typical firm in these industries has risen. This paper studies the dynamics of the substitution of capital...
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