Showing 1 - 10 of 597
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
This paper examines the profound challenges that transformative advances in AI towards Artificial General Intelligence (AGI) will pose for economists and economic policymakers. I examine how the Age of AI will revolutionize the basic structure of our economies by diminishing the role of labor,...
Persistent link: https://www.econbiz.de/10015072921
We develop and quantify a novel growth theory in which economic activity endogenously shifts from material production to quality improvements. Consumers derive utility from goods with differing environmental footprints: necessities are material-intensive and polluting, while luxuries are more...
Persistent link: https://www.econbiz.de/10015421878
Using detailed product- and invention-level data from the pharmaceutical industry, we demonstrate that firms with particularly high-selling "blockbuster" products concentrate their development efforts on new products that both target the same customer segments and are more likely to be...
Persistent link: https://www.econbiz.de/10015421908
This paper studies how innovation reacts to foreign political risk and shapes its economic consequences. In a model with foreign political shocks that can disrupt the supply of foreign inputs, we show that greater political risk abroad increases domestic innovation, thereby lowering reliance on...
Persistent link: https://www.econbiz.de/10015421915
We develop a method to estimate producers' productivity beliefs in settings where output quantities and input prices are unobservable, and we use it to evaluate allocative efficiency in the market for science. Our model of researchers' labor supply shows that their willingness to pay for their...
Persistent link: https://www.econbiz.de/10015438225
We examine how artificial intelligence transforms the core pillars of collaboration--performance, expertise sharing, and social engagement--through a pre-registered field experiment with 776 professionals at Procter & Gamble, a global consumer packaged goods company. Working on real product...
Persistent link: https://www.econbiz.de/10015398094
We study the post-World War II "Golden Age" of American corporate research from 1945 to 1980, using multiple indicators of corporate research activity. We use an ensemble learning approach to classify firms as either Science Leaders, Absorbers or Followers. Our analysis reveals that only a small...
Persistent link: https://www.econbiz.de/10015398165
Understanding factors affecting the direction of innovation is a central aim of research in the economics of innovation. Progress on this topic has been inhibited by difficulties in measuring distance and movement in knowledge space. We describe a methodology that infers the mapping of the...
Persistent link: https://www.econbiz.de/10013435165
Prior research, primarily based on lab experiments, suggests that females might be more averse to competition than males and could be more inclined towards collaboration, instead. Were these findings to generalize to adults across the workforce, there could be profound implications for...
Persistent link: https://www.econbiz.de/10013210090