The Medium Is the Measure: Technical Change and Employment, 1909—1949
基于技术专利标题构建新指标，研究1909至1949年间美国技术变革对劳动力市场的影响，发现正向技术冲击提升生产率、就业和职位空缺，降低失业和企业倒闭，但1934年后技术高涨未带来就业强劲复苏。
New indicators, based on technology titles, are used to measure the impact of innovative activity on the U.S. labor market between 1909 and 1949. We find that positive technology shocks raised productivity, employment, vacancies, and labor turnover and lowered unemployment and business failures. Moreover, automotive and electrical innovations (quintessential general-purpose technologies) had a greater positive impact on employment than those in mechanical innovations. The overall results, compatible with the predictions of the real business cycle model, raise questions about the anemic recovery in employment after 1934 since the strong upsurge in technical change failed to be accompanied by vigorous job expansion.