demographic shifts, account for plausible changes in labour force participation rates, and achieve target unemployment rates of at … automation further compound the challenge of job creation, which is already quite sizable in historical perspective. Failure to …

We summarize a framework for the study of the implications of automation and AI on the demand for labor, wages, and … employment. Our task-based framework emphasizes the displacement effect that automation creates as machines and AI replace labor … counteracted by a productivity effect, resulting from the cost savings generated by automation, which increase the demand for labor …

created. In a static version where capital is fixed and technology is exogenous, automation reduces employment and the labor … capital accumulation and the direction of research towards automation and the creation of new tasks. If the long-run rental … rate of capital relative to the wage is sufficiently low, the long-run equilibrium involves automation of all tasks …

automation technology, the model embodies an important tradeoff between reallocating employment across occupations and … reallocation of workers towards non-employment. Quantitatively, we find that advances in automation technology on their own account …

expand their overall employment as well. However, this expansion comes at the expense of their competitors (as automation …

We show that the largest increase in unemployment benefits in U.S. history had large spending impacts and small job …

pandemic recession. We first measure the contribution of temporary layoffs to unemployment dynamics over the period 1979 to the … due to “loss-of-recall”, whereby workers in temporary-layoff unemployment lose their job permanently and do so at higher … both temporary-layoff and jobless unemployment. The model captures well pre-pandemic unemployment dynamics and shows how …