Innovation, automation, and inequality: Policy challenges in the race against the machine

• 成果类型: Article
• 署名作者: Prettner, Klaus; Strulik, Holger
• 署名单位: University Hohenheim; University of Gottingen
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2019.10.012
• 发表日期: 2020
• 页码: 249-265
• 关键词: automation; education; Innovation-Driven growth; INEQUALITY; Policy responses

摘要

The effects of automation on economic growth, education, and inequality are analyzed using an R&D-driven growth model with endogenous education in which high-skilled workers are complements to machines and low-skilled workers are substitutes for machines. The model predicts that automation leads to an increasing share of college graduates, increasing income and wealth inequality, and a declining labor share. We show that standard policy suggestions for the age of automation can trigger unintended side effects on inequality, growth, and welfare, irrespective of whether they are financed by progressive wage taxation or by a robot tax. (C) 2019 The Author(s). Published by Elsevier B.V.