The macroeconomics of automation: Data, theory, and policy analysis
| Autor: | Yaniv Yedid-Levi, Nir Jaimovich, Itay Saporta-Eksten, Henry E. Siu |
|---|---|
| Přispěvatelé: | University of Zurich, Jaimovich, Nir |
| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
Economics and Econometrics
General equilibrium theory J23 J01 J24 Factors of production 2002 Economics and Econometrics ECON Department of Economics Automation 10007 Department of Economics Polarization Economics ddc:330 USA automation Soziale Ungleichheit polarization Public economics business.industry Polarization (politics) Retraining Berufsplanung retraining Redistribution (cultural anthropology) unemployment insurance Policy analysis 330 Economics E60 2003 Finance Beschäftigung J2 labor force participation Capital (economics) Routinearbeit E22 E00 E23 routine employment E24 E25 business universal basic income Finance |
| Popis: | The U.S. economy has experienced a significant drop in the fraction of the population employed in middle wage, "routine task-intensive" occupations. Applying machine learning techniques, we identify characteristics of those who used to be employed in such occupations and show they are now less likely to work in routine occupations. Instead, they are either non-participants in the labor force or working at occupations that tend to occupy the bottom of the wage distribution. We then develop a quantitative, heterogeneous agent, general equilibrium model of labor force participation, occupational choice, and capital investment. This allows us to quantify the role of advancement in automation technology in accounting for these labor market changes. We then use this framework as a laboratory to evaluate various public policies aimed at addressing the disappearance of routine employment and its consequent impacts on inequality. |
| Databáze: | OpenAIRE |
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