New technologies can both substitute for and complement labor. Evidence from structural vector autoregressions using a large global sample of economies suggests that the substitution effect dominates in the short-run for over three-quarters of economies. A typical 10 percent technology-driven improvement in labor productivity reduces employment by 2 percent in advanced economies in the first year and 1 percent in emerging market and developing economies...
انظر المزيد
تفاصيل
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2021/1/28
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ورقة عمل خاصة ببحوث السياسات
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WPS9529
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1
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1
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2021/1/28
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Disclosed
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The Technology-Employment Trade-Off : Automation, Industry, and Income Effects
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technology shock