finds that higher wages are associated with lower monitoring, irrespective of whether these high wages are caused by labour …, monitoring is a type of ‘rent-seeking’ activity and the decentralized equilibrium spends excessive resources on monitoring …. Labour market regulations that reduce monitoring by pushing wages up may increase net output or reduce it only by a small …

humans can be productively employed. Recent technological change has been biased towards automation, with insufficient focus … tendency is to develop AI in the direction of further automation, but this might mean missing out on the promise of the "right …

We present a framework for understanding the effects of automation and other types of technological changes on labor … allocation of tasks to capital and labor – the task content of production. Automation, which enables capital to replace labor in … a result, automation always reduces the labor share in value added and may reduce labor demand even as it raises …

higher wages at the bottom make interior automation less likely. Starting with interior automation, a reduction in the cost …We develop an assignment model of automation. Each of a continuum of tasks of variable complexity is assigned to either … capital or one of a continuum of labor skills. We characterize conditions for interior automation, whereby tasks of …

humans can be productively employed. Recent technological change has been biased towards automation, with insufficient focus … tendency is to develop AI in the direction of further automation, but this might mean missing out on the promise of the "right …