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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | The macroeconomics of automation: Data, theory, and policy analysis |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Journal of Monetary Economics |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 0304-3932 |
| Volume | 122 |
| Page Range | 1 - 16 |
| Date | 2021 |
| Abstract Text | The decline in middle-wage occupations and rise in automation over the last decades are at the center of policy discussions. We develop an empirically relevant general equilibrium model that features endogenous labor force participation, occupational choice, and automation capital. We use the model to consider two types of policies: the retraining of workers who were adversely affected by automation, and redistribution policies that transfer resources to these workers. Our framework emphasizes general equilibrium effects such as displacement effects of retraining programs, complementarities between the factors of production, and the effects of distortionary taxation that is required to fund these programs. |
| Related URLs | |
| Digital Object Identifier | 10.1016/j.jmoneco.2021.06.004 |
| Other Identification Number | merlin-id:21433 |
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| Keywords | Polarization, automation, routine employment, labor force participation, universal basic income |