There seems to be two interrelated concerns with automation: first, does increases in the minimum wage encourage … businesses to further automate their processes; and second, does automation affect the demand for labor, especially the low …

This paper examines the welfare effects of automation in neoclassical growth models with and without intergenerational … transfers. In a standard overlapping generations model without such transfers, improvements in automation technologies that … intergenerational transfers based on altruism, automation could raise the well-being of all generations. With imperfect altruism, fiscal …

We analyze the effect of price caps on equilibrium production and welfare in oligopoly under demand uncertainty. We … find that high price caps always increase production and welfare as compared to the situation without price cap. Price caps … close to marginal cost may lead to zero production, depending on the nature of uncertainty. We characterize the optimal …