Abstract: We identify novel technologies using textual analysis of patents, job postings, and earnings calls. Our approach enables us to document the diffusion of 29 disruptive technologies across firms and labor markets in the U.S. Four stylized facts emerge from our data. First, as technologies mature and the number of new jobs related to them grows, they gradually spread across space. While initial hiring is concentrated on high-skilled jobs, over time the mean skill level in new positions associated with the technologies declines, broadening the types of jobs that adopt a given technology. At the same time, the geographic diffusion of low-skilled positions is significantly faster than higher-skilled ones, so that the locations where initial discoveries were made retain their leading positions among high-paying positions for decades. Finally, such technology hubs are more likely to arise in areas with universities and high skilled labor pools.
Aakash Kalyani Aakash Kalyani Aakash Kalyani Aakash Kalyani