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In this chapter, we first discuss the limitations of traditional financial advice, which led to the emergence of robo-advising. We then describe the main features of robo-advising and propose a taxonomy of robo-advisors based on four defining dimensions---personalization, discretion,...
Persistent link: https://www.econbiz.de/10012836714
complement non-routine labor. I show that while it is optimal to distort robot adoption, robots may be either taxed or subsidized …. The robot tax exploits general-equilibrium effects to compress the wage distribution. Wage compression reduces income …-tax distortions of labor supply, thereby raising welfare. In the calibrated model, the optimal robot tax for the US is positive and …
Persistent link: https://www.econbiz.de/10012892266
We investigate the impact of robot adoption on electoral outcomes in 14 Western European countries, between 1993 and …-sample employment patterns in the region of residence. We instrument robot adoption in each country using the pace of robot adoption in … other countries. Higher exposure to robot adoption is found to increase support for nationalist and radical-right parties …
Persistent link: https://www.econbiz.de/10012865699
We study the implications of robot adoption at the level of individual firms using a rich panel data-set of Spanish … are the labor market effects of robot adoption at the firm level? (3) How does firm heterogeneity in robot adoption affect … literature to formalize the implications of robot technology. As for the first question, we establish robust evidence that ex …
Persistent link: https://www.econbiz.de/10012871754
. Compared to other firms operating in the same 5-digit sector, robot importers are larger, more productive, and employ a higher … share of managers and engineers. Over time, robot import occurs after periods of expansion in firm size, and is followed by … identify the causal effects of robot adoption. Our results suggest that, while demand shocks generate a positive correlation …
Persistent link: https://www.econbiz.de/10013314850
participation declined, reducing the relative economic stature of men. Regions affected by intense robot penetration experienced …
Persistent link: https://www.econbiz.de/10013322784
establishment-level data on injuries, we find that a one standard deviation increase in our commuting zone-level measure of robot … to robot penetration experience a significant increase in drug- or alcohol-related deaths and mental health problems …. Employing longitudinal data from Germany, we exploit within-individual changes in robot exposure and document that a one …
Persistent link: https://www.econbiz.de/10014081586
The general-equilibrium effects of performance-related teacher pay include long-term incentive and teacher-sorting mechanisms that usually elude experimental studies but are captured in cross-country comparisons. Combining country-level performance-pay measures with rich PISA-2003 international...
Persistent link: https://www.econbiz.de/10013139418
Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...
Persistent link: https://www.econbiz.de/10013116042
influential in recent policy discussions. It notes potentially important features of the real- world environment that the standard …
Persistent link: https://www.econbiz.de/10012833728