Comment on “Computerizing industries and routinizing jobs: Explaining trends in aggregate productivity” by Sangmin Aum, Sang Yoon (Tim) Lee and Yongseok Shin
Journal of Monetary Economics, 2018, vol. 97, issue C, 22-28
Aum et al. (2018) quantify the impact of production complementarities and differential productivity growth across occupations and sectors on the slowdown of aggregate productivity growth. This note expands their work to study substitutability between new computer equipment and labor in individual occupations as opposed to all occupations combined. Preliminary empirical evidence suggests (1) significantly different elasticities of substitution between computers and labor across occupations and (2) a strong correlation between productivity growth of computers and labor in occupations where these two inputs are complementary. When they are substitutes, however, their productivity growth rates appear uncorrelated. These findings have the potential to amplify or weaken the magnitude of the aggregate productivity slowdown explained by Aum et al. (2018) making their approach a promising avenue for future research.
Keywords: Occupation-specific technical change; Productivity growth slowdown; Computer-occupation complementarity (search for similar items in EconPapers)
JEL-codes: E2 O3 O4 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:moneco:v:97:y:2018:i:c:p:22-28
Access Statistics for this article
Journal of Monetary Economics is currently edited by R. G. King and C. I. Plosser
More articles in Journal of Monetary Economics from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().