Do Robots Increase Wealth Dispersion? by Thomas Jansson, Sveriges Riksbank.
Please register by sending an email to [email protected] with your full name, surname and university/work-place until 12th of September, 13:00.
Seminar language: English.
We demonstrate that increased automation has a significant impact on both static and dynamic aspects of wealth distribution. Households who are more exposed to robots at work accumulate less wealth and experience greater downward mobility in the wealth distribution. The negative wealth effects of robots are not merely a consequence of differences in earned incomes or in saving rates. We argue and provide evidence that the adverse effects of rapid robotization on individual workers’ human capital, and thereby, on their financial risk taking behavior and investment choices appear to be an additional operative channel.