Sangmin Aum, Tim Lee, Yongseok Shin, 04 July 2018

The past three decades have seen unprecedented technological development, with major impacts on labour markets and the economy as a whole. This column investigates how automation and the increased use of computers has affected productivity trends over the last three decades. Results suggest that automation has had a strong effect on slowing down aggregate productivity, despite raising it at the micro level. This is due to the reallocation of factor inputs across occupations and industries. 

David Baqaee, Emmanuel Farhi, 04 December 2017

Mounting evidence suggests that average mark-ups in the US economy have been increasing. This column argues that about half of measured aggregate productivity growth over the last 20 years can be accounted for by firms with higher mark-ups increasing their relative size. This implies that the slowdown in pure technology growth is even slower than suggested by aggregate productivity statistics. Eliminating mark-ups would increase the productivity of the US economy by about 40%.

Events

  • 17 - 18 August 2019 / Peking University, Beijing / Chinese University of Hong Kong – Tsinghua University Joint Research Center for Chinese Economy, the Institute for Emerging Market Studies at Hong Kong University of Science and Technology, the Guanghua School of Management at Peking University, the Stanford Center on Global Poverty and Development at Stanford University, the School of Economics and Management at Tsinghua University, BREAD, NBER and CEPR
  • 19 - 20 August 2019 / Vienna, Palais Coburg / WU Research Institute for Capital Markets (ISK)
  • 29 - 30 August 2019 / Galatina, Italy /
  • 4 - 5 September 2019 / Roma Eventi, Congress Center, Pontificia Università Gregoriana Piazza della Pilotta, 4, Rome, Italy / European Center of Sustainable Development , CIT University
  • 9 - 14 September 2019 / Guildford, Surrey, UK / The University of Surrey

CEPR Policy Research