BoE paper outlines new theory of automation and inequality
Authors highlight “new theoretical mechanism” linking automation to higher wealth inequality
Research published by the Bank of England tries to fill a gap in the existing theoretical literature on how automation impacts inequality.
In the working paper, authors Benjamin Moll, Lukasz Rachel and Pascual Restrepo focus on the returns that accrue to holders of capital. They note much of the literature to date has focused on how labour income is affected by automation, neglecting the importance of capital holdings as a source of income, particularly for richer people.
The authors develop a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Macroeconomics
No systemic link between dollar and oil price yet – ECB paper
Increasing value of crude no longer weakens greenback, but does not “significantly” lift currency
Governors weigh macroeconomic risks at G30 event
Officials from Netherlands, South Africa, BIS and more consider debt, inflation and climate change
Differences in eurozone states ‘support disinflation narrative’
BdF deputy governor confident inflation will keep falling based on wage developments
‘Pooling’ models generates better output gap estimates – paper
Economists say measuring gap in real time is particularly challenging in developing countries
Trade credit can expose firms to FX risk – BIS paper
Currency borrowers partially insulate their partners from shocks, but still pass them along supply chains
Hélène Rey on cracking the code to the global financial cycle
The dollar and financial cycle move together. For the first time, economists think they know why
Close ‘huge’ gender gap to boost GDP – North Macedonia governor
Head of central bank says supporting female entrepreneurs could add $5trn-6trn to global economy
Shared EU debt not ‘essential’ for competitiveness boost – Draghi
Former ECB chief also says his proposal for €750bn of extra annual investment is “conservative”