Show simple item record

dc.contributor.authorAcemoglu, K. Daron
dc.contributor.authorRestrepo, Pascual
dc.date.accessioned2020-06-09T14:46:55Z
dc.date.available2020-06-09T14:46:55Z
dc.date.issued2018-05
dc.identifier.issn2574-0768
dc.identifier.issn2574-0776
dc.identifier.urihttps://hdl.handle.net/1721.1/125740
dc.description.abstractModeling automation as factor-augmenting technological change has unappealing implications. Instead, modeling it as the process of machines replacing tasks previously performed by labor is both descriptively realistic and leads to distinct and plausible predictions. In contrast to factor-augmenting technological change, the automation of tasks always reduces the labor share and can reduce the equilibrium wage (for realistic parameter values). This approach to automation underscores the role of new tasks, changes in the comparative advantage of labor, the possibility that machines become more productive in automated tasks, and the elasticity of substitution and capital accumulation in the adjustment of the economy.en_US
dc.language.isoen
dc.publisherAmerican Economic Associationen_US
dc.relation.isversionofhttp://dx.doi.org/10.1257/pandp.20181020en_US
dc.rightsArticle is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use.en_US
dc.sourceAmerican Economic Associationen_US
dc.titleModeling Automationen_US
dc.typeArticleen_US
dc.identifier.citationAcemoglu, Daron, and Restrepo, Pascual. "Modeling Automation." AEA Papers and Proceedings, 108 (May 2018): 48-53. ©2018 American Economic Association.en_US
dc.contributor.departmentMassachusetts Institute of Technology. Department of Economicsen_US
dc.relation.journalAEA Papers and Proceedingsen_US
dc.eprint.versionFinal published versionen_US
dc.type.urihttp://purl.org/eprint/type/JournalArticleen_US
eprint.statushttp://purl.org/eprint/status/PeerRevieweden_US
dc.date.updated2019-10-18T15:39:01Z
dspace.date.submission2019-10-18T15:39:03Z
mit.journal.volume108en_US
mit.metadata.statusComplete


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record