This paper surveys the theoretical approaches used in the literature to study the phenomenon of delayed graduation and university dropout. The classical human capital model does not contemplate failure, which the amended human capital model does. Delayed graduation and university dropout are two...

Starting in 1999, the Bologna Process reformed the German five-year study system for a first degree into the three-year bachelor's (BA) system to harmonize study lengths in Europe and improve competitiveness. This reform unintentionally challenged the German apprenticeship system that offers...

We estimate the causal effect of exposure to math during high school on university major choice and performance, using a unique administrative dataset of 1,396 twins extracted from the entire student population enrolled between 2011 and 2021 at an Italian university. We apply a Twin Fixed Effect...

A new technological epoch is underway – the so-called Machine Age –reflecting advances in artificial intelligence, digitalisation and Big Data. Some commentators have claimed that this epoch is different from previous ones in that it will produce large-scale technological unemployment, while...

New processes significantly affect firms and workers; however, due to a lack of quantitative indicators, our understanding of the measures, determinants, and impacts of new processes remains limited. Drawing on unique data from Pakistan, we analyzed five different measures of process innovation...

Artificial intelligence (AI) is emerging as a transformative innovation with the potential to drive significant economic growth and productivity gains. This study examines whether AI is initiating a technological revolution, signifying a new technological paradigm, using the perspective of...

We analyze the effects of R&D-driven automation on economic growth, education, and inequality when high-skilled workers are complements to machines and low-skilled workers are substitutes for machines. The model predicts that innovation-driven growth leads to an increasing population share of...

This paper addresses, both theoretically and empirically, the sectoral patterns of job creation and job destruction in order to distinguish the alternative effects of embodied vs disembodied technological change operating into a vertically connected economy. Disembodied technological change...

Economic activities based on the invention, production and distribution of artificial intelligence (AI) technologies have recently emerged worldwide. Yet, little is known about the innovative activities, location and growth performance of AI innovators. This chapter aims to map and analyse the...

There is a momentous debate on the role played by financial technology (fintech) innovation in the fragility of the banking sector. Considering the importance of financial solidness, contradictory theoretical predictions and empirical evidence, the in-depth re-investigation of this relation is...