研讨论文

The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment

主讲人

朱景明（中经管2022级硕士生）

时间

9月16日18:30-21:30

地址

学术会堂712

人数规模

30人

主持人

王忏、明洋

活动对象

创新发展学院、金融学院学生

论文简介

We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and technology is exogenous, automation reduces employment and the labor share, and may even reduce wages, while the creation of new tasks has the opposite effects. Our full model endogenizes capital accumulation and the direction of research toward automation and the creation of new tasks. If the long-run rental rate of capital relative to the wage is sufficiently low, the long-run equilibrium involves automation of all tasks. Otherwise, there exists a stable balanced growth path in which the two types of innovations go hand-in-hand. Stability is a consequence of the fact that automation reduces the cost of producing using labor, and thus discourages further automation and encourages the creation of new tasks. In an extension with heterogeneous skills, we show that inequality increases during transitions driven both by faster automation and the introduction of new tasks, and characterize the conditions under which inequality stabilizes in the long run.

主办单位

创新发展学院中国经济与管理研究院、金融学院联合主办