What should the fifth U.S. economic recovery package look like? Rob Atkinson's op-ed in American Compass explains that it must address both the short-term and long-term health of the economy.
March 30, 2020
Fact of the Week: The Ratio of Patent Filings to Population Living in Large Cities has Been Rising in the United States, but Falling in 13 out of 14 Other OECD Countries
It is widely presumed that agglomeration effects cause large cities to have large advantages in the innovative process. A new study tests this presumption by examining the proportion of patents filed in large metropolitan areas from 2000 to 2014 across 14 OECD countries.
March 23, 2020
Fact of the Week: Winning the H-1B Lottery Increases a Start-up’s Odds of Going Public in Five Years by up to 53 Percent
Demand for H-1B visas, which allow U.S. firms to recruit high-skilled foreign workers, has dramatically exceeded the supply—there were 200,000 applications in 2019 for the 85,000 visas that were available.
March 9, 2020
The expansion of railroads across the United States in the late 1800s dramatically increased interconnections between communities, allowing businesses to reach new markets and incentivizing more efficient resource allocation. These effects are particularly salient today, given that the adoption of broadband has played a very similar role in the modern economy.
March 2, 2020
Fact of the Week: European Manufacturers Added Five New Workers for Every Robot They Deployed From 1995 to 2015
The growth of artificial intelligence has stoked fears that industries beyond manufacturing could be significantly automated. This underscores the need to study the evidence about modern automation, especially because the facts frequently contradict common concerns.
January 21, 2020
Fact of the Week: Industrial Espionage Reduced the Productivity Gap Between East and West Germany by 10.3 Percent
By the end of the Cold War, West Germany’s productivity was 3.6 times larger than East Germany’s. Utilizing the complete set of industrial information provided to East Germany between 1970 and 1989 by informants in West Germany, researchers have estimated that East Germany’s productivity would have been 10.3 percent lower in 1989 without this espionage.
January 1, 2020
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December 2, 2019
New technologies are poised to automate everything from infrastructure to traditionally human jobs. Some may fear a coming robot takeover, but as Daniel Castro writes for Government Technology, the real problem is that automation isn't happening fast enough.
December 2, 2019
Fact of the Week: Doubling the Intensity of Investment in Robots Increases an Industry’s Labor Productivity by 6.9 Percent, on Average
Automation boosts labor productivity, which is key to long-run economic growth. A new study examines the impact of automation on labor productivity in nine manufacturing industries across 12 European countries from 1995 to 2005, comparing the number of robots in use in an industry with the amount it invests in non-ICT capital.
November 12, 2019
The Enterprise Automation Imperative—Why Modern Societies Will Need All the Productivity They Can Get
Contrary to common belief, enterprise automation is not a cause for alarm, but instead a societal imperative. Modern nations will need all the productivity they can get to address today’s ever-more-resource-constrained challenges.
October 28, 2019
Fact of the Week: Sectors With High “Income Elasticity” Employ Fewer Medium-Skill Workers, Explaining 60 Percent of the Decline in Their Share of Wages Between 1980 and 2016
The U.S. economy has polarized since 1980, with widening gaps between high- and low-skilled wages driving increased inequality. One study has provided a partial explanation for this trend, identifying that sectors with high “income elasticity” (where demand is more sensitive to changes in income) are more likely to employ both high- and low-skilled workers, but less likely to employ medium-skilled workers.