"Advanced Technologies Adoption and Use by U.S. Firms: Evidence from the Annual Business Survey".
We report on the adoption of AI, cloud computing, robotics and the digitization of business information at 850,000 firms. nber.org/papers/w28290@nberpubs We find that digitization is quite widespread, as is some use of cloud computing.
In contrast, advanced technology adoption is rare and generally skewed towards larger and older firms.
Mar 2, 2019 • 7 tweets • 2 min read
A thread about my new @nberpubs paper with @sethbenzell:
Digital innovation is delivering remarkable progress.
Yet returns to ordinary labor (Median wages) and ordinary capital (interest rates) are both historically low. 1/n@nberpubs One research literature addresses low median wages and falling labor share.
A completely different literature seeks to explain low interest rates and lack of capital investment.
We explain both of these sets facts with one model.