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Technological Change in an Unstable Labor Market: A Dynamic System Approach
Journal of Economic Issues ( IF 1.0 ) Pub Date : 2020-10-01 , DOI: 10.1080/00213624.2020.1828727
Timon Scheuer , Stella Zilian

Abstract: The rise of digital technologies, robots and computers has once again drawn attention to questions about the economic impact of technological progress. While process innovation is usually associated with productivity gains and a corresponding displacement of labor, product innovation is assumed to have rather positive effects on employment. We incorporate both channels of technological change by considering their different effects on productivity, needs, and expectations in a stock‐flow consistent dynamic system approach. The highly simplified economic system presented in this article is based on standard assumptions, while with regard to technological progress and its effects the model allows for the emergence of off‐equilibria paths and an unstable labor market. The chosen framework illustrates key dependencies in market economies, but simultaneously ties in with a fundamental level and thereby leaves space for shortcomings. Both may be seen as contribution to further developments as science, just like technological change, partly always will be a process of trial and error.

中文翻译:

不稳定劳动力市场中的技术变革:动态系统方法

摘要:数字技术、机器人和计算机的兴起再次引起人们对技术进步对经济影响的问题的关注。虽然流程创新通常与生产力提高和相应的劳动力转移有关,但产品创新被认为对就业有相当积极的影响。我们通过在存量流动一致的动态系统方法中考虑它们对生产力、需求和期望的不同影响来合并这两种技术变革渠道。本文中提出的高度简化的经济系统基于标准假设,而在技术进步及其影响方面,该模型允许出现非均衡路径和不稳定的劳动力市场。所选框架说明了市场经济中的关键依赖关系,但同时又与基本层面联系在一起,从而为缺点留下了空间。两者都可以被视为对科学进一步发展的贡献,就像技术变革一样,部分总是一个反复试验的过程。
更新日期:2020-10-01
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