4
votes
Accepted
Industrial Revolution: Induced technical change and factor shares
According to Allen (2001), real wages expanded throughout the 19th century in the UK. You seem to imply that they did not. The graph below shows that the UK (London) had higher wages+cost of living ...
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3
votes
Accepted
Can an overall improvement in technology make the owners of one factor worse off?
1x2 model
Consider a mode where production of a single good is given by a constant returns to scale CES production function:
$$Y=A(\alpha L^\rho +(1-\alpha)K^\rho)^{\frac{1}{\rho}}$$
where the ...
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2
votes
Books on Technological Progress and Growth
Daron Acemoglu's comprehensive book "Introduction to Modern Economic Growth" is a very good source of models and analysis related to technological change and growth.
There is a copy of an earlier ...
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2
votes
Books on Technological Progress and Growth
I'd recommend ADVANCED
MACROECONOMICS
Fourth Edition by David Romer.
Its a textbook for advanced macroeconomics, however it covers the topics in a very precise way. Id recommend reading chapters 1 ...
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2
votes
Accepted
Induced technical change vs. directed technical change
Directed technical change is the relatively recent name for what it was was previously called Induced technical change.
Informal discussion about the endogenous direction of technical change was ...
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2
votes
Accepted
Energy saving technology and energy service price
A problem with using energy service prices is that they might reflect competition conditions (e.g. monopoly/oligopoly, or the big six in the UK) rather than the true cost of energy to firms.
A ...
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1
vote
How relevant if the notion "labour productivity" in the era of automation?
We've been in the "era of automation" for centuries now (witness the systematic technological underemployment called the "40-hour work week"), and yet labor remains the major ...
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1
vote
Is it reasonable to run particle colliders from economic perspective?
The problem with this question is that we most likely do not yet have the data to answer this. A historical example may help. At the beginning of the 19th century, electricity was a curiosity. Only in ...
- 288
1
vote
Labour-saving vs. Labour-augmenting technical change
This is how I'd approach the problem. Please point out any issues on this method as it is based on my own approach (I have no textbook to reference this to).
Based on the information you have, you ...
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1
vote
Question about skill-biased technical change, Acemoglu
I won't replicate the model -interested readers should read the link the OP provides.
Acemoglu's argument as to when a high relative supply of skilled labor will lead to skill-biased technological ...
1
vote
Data on Directed Technical Change
My understanding is that the literature has so far used three kinds of empirical analysis of the directed technical change.
Illustration based on the relationship between the relative supply of ...
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