Listing 1 - 2 of 2 |
Sort by
|
Choose an application
COVID-19 has exacerbated concerns about the rise of the robots and other automation technologies. This paper analyzes empirically the impact of past major pandemics on robot adoption and inequality. First, we find that pandemic events accelerate robot adoption, especially when the health impact is severe and is associated with a significant economic downturn. Second, while robots may raise productivity, they could also increase inequality by displacing low-skilled workers. We find that following a pandemic, the increase in inequality over the medium term is larger for economies with higher robot density and where new robot adoption has increased more. Our results suggest that the concerns about the rise of the robots amid the COVID-19 pandemic seem justified.
Aggregate Factor Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Automatic control engineering --- Automation --- Communicable diseases --- Covid-19 --- Diffusion Processes --- Diseases: Contagious --- Employment --- Equity, Justice, Inequality, and Other Normative Criteria and Measurement --- Health Behavior --- Income distribution --- Income inequality --- Infectious & contagious diseases --- Intergenerational Income Distribution --- Labor Demand --- Labor Turnover --- Layoffs --- Macroeconomics --- Personnel Economics: Firm Employment Decisions --- Promotions --- Robotics --- Technological Change: Choices and Consequences --- Unemployment --- Unemployment: Models, Duration, Incidence, and Job Search --- Vacancies --- Wage Differentials --- Wage Level and Structure --- Wages --- China, People's Republic of
Choose an application
Uncertainty over economic policy plays a key role in economic outcomes. But evidence and quantification for emerging markets are elusive because of measurement and reverse causality issues. In this paper, we construct a news-based economic policy uncertainty (EPU) index for Turkey and assess how it affects Turkish firms. To disentangle the issues of endogeneity and reverse causality, we use a difference-in-differences approach, exploiting the fact that firms with a high share of irreversible investment are more exposed to policy uncertainty. In sectors with large irreversible investment EPU has a greater effect on growth, investment, and leverage. The results are robust to different definitions of investment irreversibility, lag structure, and selection of sectors.
Turkey --- Economic policy. --- Labor --- Macroeconomics --- Money and Monetary Policy --- Information, Knowledge, and Uncertainty: General --- Investment --- Capital --- Intangible Capital --- Capacity --- General Outlook and Conditions --- Firm Objectives, Organization, and Behavior: General --- Personnel Economics: Firm Employment Decisions --- Promotions --- Employment --- Unemployment --- Wages --- Intergenerational Income Distribution --- Aggregate Human Capital --- Aggregate Labor Productivity --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Forecasting and Simulation: Models and Applications --- Labour --- income economics --- Monetary economics --- Economic Forecasting --- Credit default swap --- GDP forecasting --- Money --- National accounts --- Economic theory --- Credit --- National income --- Gdp forecasting --- Income economics
Listing 1 - 2 of 2 |
Sort by
|