Should We Fear the Robot Revolution? : (The Correct Answer is Yes) /
We may be on the cusp of a 'second industrial revolution' based on advances in artificial intelligence and robotics. We analyze the implications for inequality and output, using a model with two assumptions: 'robot' capital is distinct from traditional capital in its degree of su...
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| Awduron Eraill: | , |
| Fformat: | Cylchgrawn |
| Iaith: | English |
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Washington, D.C. :
International Monetary Fund,
2018.
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| Cyfres: | IMF Working Papers; Working Paper ;
No. 2018/116 |
| Mynediad Ar-lein: | Full text available on IMF |
| Crynodeb: | We may be on the cusp of a 'second industrial revolution' based on advances in artificial intelligence and robotics. We analyze the implications for inequality and output, using a model with two assumptions: 'robot' capital is distinct from traditional capital in its degree of substitutability with human labor; and only capitalists and skilled workers save. We analyze a range of variants that reflect widely different views of how automation may transform the labor market. Our main results are surprisingly robust: automation is good for growth and bad for equality; in the benchmark model real wages fall in the short run and eventually rise, but 'eventually' can easily take generations. |
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| Disgrifiad o'r Eitem: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Disgrifiad Corfforoll: | 1 online resource (61 pages) |
| Fformat: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Mynediad: | Electronic access restricted to authorized BRAC University faculty, staff and students |