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Author: Siu, Henry
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Jaimovich, Nir Saporta-Eksten, Itay Siu, Henry Yedid-Levi, Yaniv |
The Macroeconomics of Automation: Data, Theory, and Policy Analysis Journal of Monetary Economics published online (8 July 2021): DOI: 10.1016/j.jmoneco.2021.06.004. Also: https://www.sciencedirect.com/science/article/pii/S0304393221000684 Cohort(s): NLSY79, NLSY97 Publisher: Elsevier Keyword(s): Armed Forces Qualifications Test (AFQT); Cognitive Ability; Current Population Survey (CPS) / CPS-Fertility Supplement; Displaced Workers; Occupations; Skilled Workers The decline in middle-wage occupations and rise in automation over the last decades is at the center of policy discussions. We develop an empirically relevant general equilibrium model that features endogenous labor force participation, occupational choice, and automation capital. We use the model to consider two types of policies: the retraining of workers who were adversely affected by automation, and redistribution policies that transfer resources to these workers. Our framework emphasizes general equilibrium effects such as displacement effects of retraining programs, complementarities between the factors of production, and the effects of distortionary taxation that is required to fund these programs. |
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Bibliography Citation
Jaimovich, Nir, Itay Saporta-Eksten, Henry Siu and Yaniv Yedid-Levi. "The Macroeconomics of Automation: Data, Theory, and Policy Analysis." Journal of Monetary Economics published online (8 July 2021): DOI: 10.1016/j.jmoneco.2021.06.004.
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