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Will smart machines do to humans what the internal combustion engine did to horses – make them obsolete? If so, can putting people out of work or, at least, good work leave them unable to buy what smart machines produce? Our model's answer is yes. Over time and under the right conditions,...
Persistent link: https://www.econbiz.de/10013028067
We summarize existing empirical findings regarding the adoption of robotics and AI and its effects on aggregated labor and productivity, and argue for more systematic collection of the use of these technologies at the firm level. Existing empirical work primarily uses statistics aggregated by...
Persistent link: https://www.econbiz.de/10012929542
Increased use of robots has roused concern about how robots and other new technologies change the world of work. Using … numbers of robots shipped to primarily manufacturing industries as a supply shock to an industry labor market, we estimate … that an additional robot reduces employment and wages in an industry by roughly as much as an additional 2 to 3 workers and …
Persistent link: https://www.econbiz.de/10014108913
Several recent theories emphasize the negative effects of an aging population on economic growth, either because of the lower labor force participation and productivity of older workers or because aging will create an excess of savings over desired investment, leading to secular stagnation. We...
Persistent link: https://www.econbiz.de/10012964893
characterize the optimal tax system in this model. We find that it is optimal to tax robots while the current generations of …, optimal robot taxes are zero …
Persistent link: https://www.econbiz.de/10012948062
This paper studies information diffusion in social media and the role of bots in shaping public opinions. Using Twitter data on the 2016 E.U. Referendum (“Brexit”) and the 2016 U.S. Presidential Election, we find that diffusion of information on Twitter is largely complete within 1-2 hours....
Persistent link: https://www.econbiz.de/10012918621
Technological change, from the advent of robots to expanded trade opportunities, tends to create winners and losers … be implemented using evidence on the distributional impact of new technologies, such as robots and trade. Our second … on robots and trade, the magnitude of these taxes may decrease as the process of automation and globalization deepens and …
Persistent link: https://www.econbiz.de/10012910297
Do robots raise or lower economic well-being? On the one hand, they raise output and bring more goods and services into …
Persistent link: https://www.econbiz.de/10013024502
As robots and other computer-assisted technologies take over tasks previously performed by labor, there is increasing … concern about the future of jobs and wages. We analyze the effect of the increase in industrial robot usage between 1990 and … 2007 on US local labor markets. Using a model in which robots compete against human labor in the production of different …
Persistent link: https://www.econbiz.de/10012960156
-level implications of robot adoption. Out of 55,390 firms in our sample, 598 have adopted robots between 2010 and 2015, but these firms … further document that the impact of robots on overall labor share is greater than their firm-level effects because robot …Using several sources, we construct a data set of robot purchases by French manufacturing firms and study the firm …
Persistent link: https://www.econbiz.de/10013307903