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David Hémous
David Hémous joins the University of Zurich
as Assistant Professor of Economics of
Innovation & Entrepreneurship, endowed
by the UBS Center. This will establish the
research in the field of Innovation at the
Department of Economics. Prof. David
Hémous’ research interests cover economic
growth, innovation, international trade,
income inequality, and environmental
economics. In particular, Hémous has
worked on the role of innovation for climate
change policies, the impact of automation on
the income distribution, and the link between
innovation and top income inequality.
David Hémous, how can innovation help tackle
climate change?
David Hémous:
To reduce carbon emissions we
need to either reduce production and therefore curb
growth or develop new, clean technologies, notably
in energy production, which is the only way to sus-
tain high economic growth in the future. The issue
is that these clean technologies have been facing the
competition of much more mature dirty technolo-
gies. Left on its own, the market favors innovation
in these older technologies, which benefit from
the accumulated knowledge: in other words, the
economy is locked-in with fossil fuel technologies.
What role can policy play to foster clean innovation?
Policy could involve direct research subsidies or carbon
taxation. The good news is that it is not too late and that
the market is actually quite responsive. In one of my
papers, we estimate that a 10% increase in gas price leads
to a 10% increase in the number of clean patents in the
automotive industry (i.e. patents for electric, hydrogen,
or hybrid engines).
What research projects are you currently working on?
I am working on the role technological change plays
in the evolution of the income distribution. Recent
advances in IT or robotics have renewed the fears that
technological progress could hurt large chunks of the
population. Are these fears founded? And what explains
the rise of automation technologies?
Why would you recommend a bright young student
to take up economic studies?
What is fascinating about economics is how broad
David Hémous first studied physics, economics
and engineering, and holds an engineering degree
from the École polytéchnique in Palaiseau, France.
He began his studies at Harvard University, from
where he received his PhD in economics in 2012.
From 2012 until 2015, Hémous was an Assistant
Professor in Economics and Political Sciences at
Institut européen d’administration des affaires
(INSEAD) in Paris, teaching macroeconomics in
the MBA program. Starting from 2013, he has
also been a Research affiliate at the Centre for
Economic Policy Research (CEPR) in London.
Hémous is a member of the American Economic
Association, the European Association of Environ-
mental and Resource Economists, the European
Economic Association, and the Society for Eco-
nomic Dynamics. He has already published papers
in the
American Economic Review,
the
Journal of
Monetary Economics,
the
Journal of Political
Economy
and the
Journal of International Eco-
nomics
. He also writes for Vox, the widely read
Web portal for European economic policy re-
search.
Hémous is currently working on the role of auto-
mation in the evolution of the income distribu-
tion, the impact of innovation on top income
inequality, and the impact of outsourcing on
firms’ innovation strategies amongst other topics.
the discipline is. It is a fantastic tool to help us un-
derstand the world better in dimensions as diverse
as monetary policy, organs markets, and education
policy, for instance. It is therefore perfect for a curi-
ous young student with broad interests.
Research
New Assistant Professor