Publications in Scientific Journals:
C. Lankisch, K. Prettner, A. Fürnkranz-Prskawetz:
"How can robots affect wage inequality?";
Economic Modelling,
x
(2019),
81;
161
- 169.
English abstract:
We explain the simultaneous presence of i) increasing per capita output, ii) declining real wages of low-skilled workers, and iii) a rising wage premium of higher education within a model of economic growth in the age of automation. The theoretical implications are consistent with the data for the United States since the 1970s. Thus, automation contributes towards our understanding of the driving forces of rising inequality. The immediate policy conclusion is that investments in higher education can help to soften the negative effects of automation.
Keywords:
Automation/Declining real wages of low-skilled workers/Income inequality/Long-run economic growth/Skill premium
"Official" electronic version of the publication (accessed through its Digital Object Identifier - DOI)
http://dx.doi.org/10.1016/j.econmod.2018.12.015
Created from the Publication Database of the Vienna University of Technology.