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, a process that accelerated even more up to 1950-1975. What explains the spread of the industrial revolution world … world financial markets also reduced the cheap capital advantage of the leaders. However, ever-cheaper labor was not a …
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This report provides new evidence on the increasing dispersion in wages and productivity using novel micro-aggregated firm-level data from 16 countries. First, the report documents an increase in wage and productivity dispersions, for both manufacturing and market services. Second, it shows that...
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This paper considers the implications for developing countries of a new wave of technological change that substitutes pervasively for labor. It makes simple and plausible assumptions: the AI revolution can be modeled as an increase in productivity of a distinct type of capital that substitutes...
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