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Did robots make wages less responsive to unemployment?

Author

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  • Brzozowski, Michał
  • Siwińska-Gorzelak, Joanna

Abstract

Over recent years, there has been a notable change in the relationship that ties wage dynamics and unemployment, bearing significant implications for the formulation and implementation of monetary policies. Previous studies have identified a range of factors that potentially underlie this phenomenon but neglected the impact of robotisation. This paper seeks to address this gap by using data for 33 advanced economies and presenting compelling and robust empirical evidence of the moderating effect of robotisation on the relationship between unemployment and wage inflation.

Suggested Citation

  • Brzozowski, Michał & Siwińska-Gorzelak, Joanna, 2024. "Did robots make wages less responsive to unemployment?," Technological Forecasting and Social Change, Elsevier, vol. 209(C).
    • Handle: RePEc:eee:tefoso:v:209:y:2024:i:c:s0040162524005675
    DOI: 10.1016/j.techfore.2024.123769
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    More about this item

    Keywords

    Robotisation; Labour market; Wage Phillips curve;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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