Automation and Its Macroeconomic Consequences
Theory, Evidence, and Social Impacts

Introduces the economic consequences of automation by examining its effects on long-term economic growth, employment, and inequality

Klaus Prettner (Author), David E. Bloom (Author)

9780128180280

Paperback, published 17 June 2020

248 pages
22.9 x 15.1 x 1.7 cm, 0.52 kg

Automation and Its Macroeconomic Consequences reveals new ways to understand the economic characteristics of our increasing dependence on machines. Illuminating technical and social elements, it describes economic policies that could counteract negative income distribution consequences of automation without hampering the adoption of new technologies. Arguing that modern automation cannot be compared to the Industrial Revolution, it considers consequences of automation such as spatial patterns, urbanization, and regional concerns. In touching upon labor, growth, demographic, and policy, Automation and its Macroeconomic Consequences stands at the intersection of technology and economics, offering a comprehensive portrait illustrated by empirical observations and examples.

1. Introduction
2. The stylized facts
3. Empirical evidence on the economic effects of automation
4. A simple macroeconomic framework for analyzing automation
5. Endogenous savings and extensions of the baseline model
6. Automation as a potential response to the challenges of demographic change
7. Policy challenges
8. Peering into the future: long-run economic and social consequences of automation; with an epilogue on COVID-19

Subject Areas: Business strategy [KJC], Economic growth [KCG]