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

Table of Contents

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

Authors

Klaus Prettner Professor of Economics, University of Hohenheim, Stuttgart, Germany. Klaus Prettner is professor of economics with a focus on growth and distribution at the University of Hohenheim and speaker of the research network "Inequality and Economic Policy Analysis (INEPA)�. His main areas of interest are the economic consequences of automation and the interrelations between economic growth and inequality. Prettner received a Ph.D. in Economics from the University of Vienna in 2009. He has published his research in journals such as Journal of Monetary Economics, Economic Journal, Journal of Economic Growth, Journal of Health Economics, Research Policy, Journal of Urban Economics, Health Affairs, Economic Theory, Economica, and the Journal of Economic Behavior & Organization. David E. Bloom Harvard T.H. Chan School of Public Health, Boston, MA, USA. David E. Bloom is Clarence James Gamble Professor of Economics and Demography at the Harvard T.H. Chan School of Public Health. He is also Research Associate at the National Bureau of Economic Research and Research Fellow at IZA - Institute of Labor Economics. Bloom received a B.S. in Industrial and Labor Relations from Cornell University in 1976 and a Ph.D. in Economics and Demography from Princeton University in 1981. Bloom previously served on the public policy faculty at Carnegie-Mellon University and on the economics faculties at Harvard University and Columbia University. In recent years, he has written extensively on the links among health, education, population, and labor, and on economic valuation.