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Macroeconomics of Labor Markets (ECO-AD-LABORMARK)

ECO-AD-LABORMARK

Purpose

Syllabus
Course title: Macroeconomics of Labor Markets
Instructors: Zsófia Bárány

Course description

This course gives an overview of the topics at the frontier of research on the impact of technology on labor markets. The instructor will cover the basic models and then proceed by reviewing the latest work on these topics.

Course topics and reading list

1. Canonical model of skill demand

Katz and Murphy (1992): Changes in Relative Wages, 1963-1987:
Supply and Demand Factors. Quarterly Journal of Economics, 107(1)

Acemoglu (2002): Technical Change, Inequality and the Labor Market.
Journal of Economic Literature, 40, March

Acemoglu and Autor (2011): Skills, Tasks and Technologies: Implications for Employment and Earnings. in Orley Ashenfelter and David Card, eds., Handbook of Labor Economics, Vol. 4b. Sections 1,2,3
 

2. Directed technical change

Acemoglu (2002): Directed Technical Change. The Review of Economic
Studies, 69(4), October
 

3. Capital-skill complementarity

Krusell, Ohanian, Rios-Rull and Violante (2000): Capital-Skill Complementarity and Inequality. Econometrica, 6(5)

4. Skills, tasks and technologies

Acemoglu and Autor (2011): Skills, Tasks and Technologies: Implications for Employment and Earnings. in Orley Ashenfelter and David Card, eds., Handbook of Labor Economics, Vol. 4b. Section 4

5. Measuring task-content and worker skills

Autor, Levy and Murnane (2003): The Skill Content of Recent Technological Change: An Empirical Exploration. Quarterly Journal of Economics, 116(4)Autor and Dorn (2013): The Growth of Low Skill Service Jobs and the Polarization of the U.S. Labor Market. American Economic Review, 103(5)Feng and Graetz (2020): Training requirements, automation and job polarisation. The Economics Journal, 130Autor, Katz and Kearney (2008): Trends in U.S. Wage Inequality: Revising the Revisionists. Review of Economics and Statistics, 90(2)Acemoglu and Autor (2011): Skills, Tasks and Technologies: Implications for Employment and Earnings. in Orley Ashenfelter and David Card, eds., Handbook of Labor Economics, Vol. 4b. Section 5Lise and Postel-Vinay (2020): Multidimensional Skills, Sorting, and Human Capital Accumulation. American Economic Review, 110(8)

 

6. Automation and work

Acemoglu and Restrepo (2018): Artificial Intelligence, Automation and Work. Quarterly Journal of Economics, 116(4)Acemoglu and Restrepo (2018): The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment. American Economic Review, 108(6)Autor (2015): Why Are There Still So Many Jobs? The History and Future of Workplace Automation. Journal of Economic Perspectives, 29(3)Acemoglu and Restrepo (2022): Tasks, Automation, and the Rise in US Wage Inequality. Econometrica, 90(5)

 

7. Labor share decline

Karabarbounis and Neiman (2014): The Global Decline of the Labor Share.Quarterly Journal of Economics, 129(1)Elsby, Hobijn, Sahin (2013): The Decline of the U.S. Labor Share.Brookings Papers on Economic Activity, Fall 2013

Autor, Dorn, Katz, Patterson, Van Reenen (2020): The Fall of the Labor Share and the Rise of Superstar Firms. Quarterly Journal of Economics, 135(2)Kehrig and Vincent (2021): Micro-Level Anatomy and the Labor Share Decline. Quarterly Journal of Economics, 136(2)Grossman and Oberfield (2022): The Elusive Explanation for the Declining Labor Share. Annual Review of Economics, 14(1)

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