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Adjusting to a New Technology: Experience and Training

Authors
Disciplines
  • Education

Abstract

A small literature on General Purpose Technology has emerged in recent years. It has studied a number of channels through which a new technology affects the economy, such as secondary innovations and diffusion. Our goal is to examine new channels of adjustment that operate through labor markets. For this purpose we distinguish between experience, that individuals acquire by working with a technology, and knowledge, that they acquire via education and training.

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