Does Automation Drive the Labor Market?

Caines, Colin; Hoffmann, Florian; Kambourov, Gueorgui

doi:10.17016/2573-2129.35

Cited by 1 publication

(1 citation statement)

References 6 publications

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“…It ranges from books directed to wide and general audiences, as those by Hanson (2016), Pugliano (2017), Reese (2018) or Baldwin (2019), to academic studies that examine and put into perspective future scenarios about the evolution of employment and wages (e.g. Eichhorst et al, 2016;Aghion et al, 2017;Caines et al, 2017;Cortes et al, 2017;Dauth et al, 2017;Eberhard et al, 2017;Gibbs, 2017;Acemoglu and Restrepo, 2018;Cho and Kim, 2018;Dutz et al, 2018;Furman and Seamans, 2018, just to cite a few key recent works).…”

Section: Robots and The Future Of Employmentmentioning

confidence: 99%

On the economic consequences of automation and robotics

Gomes

2019

JEAS

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Purpose The academic literature is currently placing significant attention on the study of the socio-economic consequences of the observable fast automation of all sectors of economic activity. The purpose of this paper is to systematize meaningful ideas on the economic impact of the rise of the robots. Design/methodology/approach With the goal of evaluating the channels through which the current wave of fast technological change affects the organization and performance of the economy and the behavior of agents, the paper is structured into two parts. The first part assesses the state of knowledge regarding the potential revolutionary role of robot use in production. The second part designs a model aimed at exposing the interplay between the most prominent features associated with the new economic reality. Findings The current wave of innovation has implications that escape conventional economic thinking. The evaluation and prediction of what the new phenomena brings is fundamental to design policies that prevent income inequality to widen and growth to slow down. Research limitations/implications The full macroeconomic impact of the fast, pervasive and irreversible automation of production is far from being completely assimilated. At this level, no benchmark model should be interpreted as a definitive framework of analysis, and economic thought should evolve alongside with empirically observed evidence. Originality/value We are facing an automation convulsion that replaces humans by machines at an unprecedented fast rate. This paper systematizes ideas about this process and offers a novel conceptual model to better understand what really is at stake.

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