Vintage human capital models imply that young workers will be the primary adopters and
beneficiaries of new technologies. Because technological progress in general, and computers
in particular, may be skill-biased and because human capital increases over the lifecycle,
technological change may favor experienced workers. This paper estimates the relationship
between experience and technology adoption and the effect of technological change on the
returns to experience. Estimates indicate that technological change is an important
explanation for changes in experience premia. We find a complementarity between existing
human capital and computer adoption and provide evidence that young workers are better
able to adapt to new technologies. Our estimates also shed light on creative destruction
models of the productivity slowdown.
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