Dynamics of automation in economic growth and the labor market

• Tipo: Artigo em Revista Científica Internacional
• Data: 2024

Autores

Óscar Afonso (Autor) FEP

Revista

Título: Bulletin of Economic Research

Vol. 76 Nº 4

Páginas: 1007-1018

ISSN: 0307-3378

Editora: Wiley-Blackwell

Indexação

ISI Web of Knowledge - 0 Citações

Scopus - 0 Citações

Outras Informações

ID Authenticus: P-010-ZMR

DOI: 10.1111/boer.12465

Abstract (EN): This study delves into the intricate dynamics of technology, labor markets, and economic growth within the context of Industry 4.0. By integrating automation capital into a dynamic general equilibrium model, we examine its implications for economic performance and social equity. The empirical analysis highlights the substitutability of unskilled labor by automation, revealing a nuanced relationship between automation adoption, the skill premium, and economic growth. Contrary to conventional wisdom, our findings suggest that a reduced ratio of unskilled to skilled labor, driven by automation, can lead to both an increase in the skill premium and sustained economic growth, even in the face of demographic challenges such as declining populations. However, this trend also exacerbates income inequality, underscoring the imperative for policy interventions aimed at promoting skill enhancement and ensuring equitable distribution of technological advancements.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 12