Did robots make wages less responsive to unemployment?

Over recent years, there has been a notable change in the relationship that ties wage dynamics and unemployment, bearing significant implications for the formulation and implementation of monetary policies. Previous studies have identified a range of factors that potentially underlie this phenomenon...

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Bibliographic Details
Published inTechnological forecasting & social change Vol. 209; p. 123769
Main Authors Brzozowski, Michał, Siwińska-Gorzelak, Joanna
Format Journal Article
LanguageEnglish
Published Elsevier Inc 01.12.2024
Subjects
Labour market
Robotisation
Wage Phillips curve
Robotisation
E52
E24
Wage Phillips curve
O33
Labour market
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Summary:Over recent years, there has been a notable change in the relationship that ties wage dynamics and unemployment, bearing significant implications for the formulation and implementation of monetary policies. Previous studies have identified a range of factors that potentially underlie this phenomenon but neglected the impact of robotisation. This paper seeks to address this gap by using data for 33 advanced economies and presenting compelling and robust empirical evidence of the moderating effect of robotisation on the relationship between unemployment and wage inflation. •The paper investigates the impact of robotisation on the slope of the wage Phillips curve•The study focuses on OECD countries over the last two decades•Robust empirical evidence shows that robot intensity changes the slope of the wage Phillips curve•Robotisation moderates the relationship between unemployment and wage dynamics
ISSN:0040-1625
DOI:10.1016/j.techfore.2024.123769