The Macroeconomics of Automation: Sorting Frictions and the Asymmetry Between Robots and AI
Estimates the cognitive frontier from commuting-zone wage responses under design-based inference, net of a college-wage trend that predates AI, and calibrates the physical frontier from firm-level evidence carried across its full range. Robots deliver about twice the productivity per unit of advance that AI does, and the ranking holds in every bootstrap draw. An AI advance lowers both wages and erodes the labor share more than twice as fast as a robot advance. A planner averse to inequality supports robot research about 70 percent more.