' The Pareto Distribution and the Cobb-Douglas Production Function in Activity Analysis,' 79(315), pages 534-556, July.Ģ0935, National Bureau of Economic Research, Inc.Ĭhina Report,, vol. ' A Microfoundation for Production Functions: Assignment of Heterogeneous Workers to Heterogeneous Jobs,'Įconomica, London School of Economics and Political Science, vol.

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' Changing identity: Retiring from unemployment,'Ģ011/11, Free University Berlin, School of Business & Economics. Hetschko, Clemens & Knabe, Andreas & Schöb, Ronnie, 2011.SOEPpapers on Multidisciplinary Panel Data Researchģ99, DIW Berlin, The German Socio-Economic Panel (SOEP).ġ10017, Otto-von-Guericke University Magdeburg, Faculty of Economics and Management. ' Changing Identity: Retiring from Unemployment,' Clemens Hetschko & Andreas Knabe & Ronnie Schöb, 2011.For the manufacturing sector, an even smaller human-robot elasticity of substitution is likely to result in declining wages of industrial workers as robots proliferate. productivity, it is shown that if the elasticity of substitution between human and robotic labor is greater than about 1.9, the burgeoning of AI technologies will cause a decline in aggregate wages, other things equal. Fitting different distributions to cross-sectional data on U.S. Houthakker's method is based on the probability distribution of the productivity of the variable factor. Alternatively, it is possible to estimate the aggregate production relationship without measuring capital or other fixed factors explicitly, using the procedure developed by Houthakker in the 1950s. With a conventional production function involving labor, robots, and ordinary capital, an increase in robotic labor can have either a positive or a negative effect on wages. The effect of the spread of Artificial Intelligence (AI) on wages depends on both the form of aggregate production relationships and the elasticity of substitution between human and robotic labor.

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