Technological Progress, Income Distribution, and Unemployment
Technological Progress, Income Distribution, and Unemployment

Author: Hideyuki Adachi

Publisher: Springer

Published: 2019-01-04

Total Pages: 90

ISBN-13: 9811337268

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This volume develops original methods of analyzing biased technological progress in the theory and empirics of economic growth and income distribution. Motivated by sharp increases in wage and income inequalities in the world since the beginning of the new century, many macroeconomists have begun to realize the importance of biased technological changes. However, the comprehensive explanations have not yet appeared. This volume analyzes the effects of factor-biased technological progress on growth and income distribution and shows that long-run trends of the capital-income ratio and capital share of income consistent with Piketty’s 2014 empirical results emerge. Incorporating the modified version of induced innovation theory into the standard neoclassical growth model, it also explains the long-run fluctuations of growth and income distribution consistent with the data shown in Piketty. Introducing a wage-setting function, the neoclassical growth model is modified to account for unemployment as well as to examine the dynamics of unemployment and the labor share of income under biased technological progress. Applying a new econometric method to Japanese industrial data, the authors test the key assumptions employed and important results derived in the theoretical part of this book.

The Economics of Artificial Intelligence
The Economics of Artificial Intelligence

Author: Ajay Agrawal

Publisher: University of Chicago Press

Published: 2024-03-05

Total Pages: 172

ISBN-13: 0226833127

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A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.

The Impact of Technological Change on Employment and Economic Growth
The Impact of Technological Change on Employment and Economic Growth

Author: Richard Michael Cyert

Publisher: Ballinger Publishing Company

Published: 1988

Total Pages: 584

ISBN-13:

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Job desplacement; The employment and labor market adjustment: evidence from the displaced worker surveys; Technological change and the extent of frictional and structural unemployment; The effects of technological change on skills and the distribution of earnings and income; Sectoral patterns of technology adoption; Trade, tax, and diffusion policy issues.

Future Employment & Technological Change
Future Employment & Technological Change

Author: Donald Leach

Publisher:

Published: 1986

Total Pages: 276

ISBN-13:

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Study of the future impact of technological change on employment and its implications for postindustrial society - considers unemployment trends, and the potential of the industrial sector, service sector and public sector for employment creation; claims that economic growth and higher productivity will not ensure full employment; argues for a work attitude that dissociates income from work, and for employment policies, fiscal policies and subsidies to expand employment opportunity; draws examples from the UK. References, statistical tables.

Globalization, Technology, and Income Inequality
Globalization, Technology, and Income Inequality

Author: Ajit Singh

Publisher:

Published: 2000

Total Pages: 56

ISBN-13:

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Argues that factors other than globalization and technological change contribute to income inequality. Highlights the role of social norms, labour institutions, trade unions, minimum wages, as well as variations in employment, in cousing income inequality.

Unemployment, Capital-Labor Substitution, and Economic Growth
Unemployment, Capital-Labor Substitution, and Economic Growth

Author: Mr.Bob Rowthorn

Publisher: International Monetary Fund

Published: 1999-03-01

Total Pages: 39

ISBN-13: 1451846304

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This paper discusses the influence of economic growth on the equilibrium unemployment rate (NAIRU). It examines how income distribution and the NAIRU are influenced by capital formation, technical progress, and labor force expansion, and how these factors’ impact depends on the elasticity of substitution between capital and labor. The paper distinguishes between the short-run NAIRU when capital stock is exogenous, and the long-run NAIRU when it is endogenous. It also considers how the analysis must be modified to take into account Keynesian ideas concerning the role of aggregate demand. It concludes that unless the capital stock grows in line with labor supply in efficiency units, the short-run NAIRU will increase, reducing the scope for demand stimulation.

Technology and the Future of Work
Technology and the Future of Work

Author: Adrian Peralta-Alva

Publisher: International Monetary Fund

Published: 2018-09-28

Total Pages: 28

ISBN-13: 1484374975

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This paper uses a DSGE model to simulate the impact of technological change on labor markets and income distribution. It finds that technological advances offers prospects for stronger productivity and growth, but brings risks of increased income polarization. This calls for inclusive policies tailored to country-specific circumstances and preferences, such as investment in human capital to facilitate retooling of low-skilled workers so that they can partake in the gains of technological change, and redistributive policies (such as differentiated income tax cuts) to help reallocate gains. Policies are also needed to facilitate the process of adjustment.

Technology and Employment
Technology and Employment

Author: Richard Michael Cyert

Publisher: Washington, D.C. (2101 Constitution Ave., NW, Washington 20418) : National Academy Press

Published: 1987

Total Pages: 248

ISBN-13: 9780309037822

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This report addresses a number of issues that have surfaced in the debates over the impact of technological change on employment. These issues include the effects of technological change on levels of employment and unemployment within the economy; on the displacement of workers in specific industries or sectors of the economy; on skill requirements; on the welfare of women, minorities, and labor force entrants in a technologically transformed economy; and on the organization of the firm and the workplace. It concludes that technological change will contribute significantly to growth in employment opportunities and wages, although workers in specific occupations and industries may have to move among jobs and careers. Recommends initiatives and options to assist workers in making such transitions. ISBN 0-309-03744-1 (pbk.).