the economics of automation
TRANSCRIPT
The economics of automation: How will digitalization affect the labour market?
NICK DESCHACHT
KU Leuven, Department of Economics
New wave of digital technologies
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New wave of digital technologies
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Covid-19 accelerates technology adoption
What stopped us from adopting technologies andchanging the (work) organization before the Covid-19 crisis?
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Aim of this presentation
How do the digital revolution and automation affect the labour market?
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Automation and employment
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Automation and employment
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Automation and employment
Why are there still so many jobs?
1. Complementary labor
2. Growing demand in the sector
3. Growing demand in other sectors
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Changing work task composition
The result of the digital revolution is a restructuring of the economy in which some sectors grow and others decline, in which some occupations disappear
and the task requirements of other occupations change.
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Income and inequality
The manufacturing decline
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Unemployment
Risks:
1. Skill mismatch
2. Frictional unemployment
3. Weak aggregate demand
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Job quality
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