| Nº Sistema |
000477209 |
| Autor |
 Basso, Henrique S. |
| Autor |
Rachedi, Omar |
| Título |
Robot adoption and inflation dynamics [Recurso electrónico] / Henrique S. Basso, Omar Rachedi. |
| Publicado en |
Journal of Monetary Economics [Artículos], v. 156, December 2025, 103856 |
| Nota general |
Artículo de revista |
| Resumen |
Leveraging variation in robot adoption across U.S. metropolitan areas, we document that automation reduces the sensitivity of inflation to unemployment. To rationalize this finding, we build a New Keynesian model with search frictions in the labor market where robot adoption flattens the Phillips curve. The key channel is the option value of automation: the threat of automating labor tasks alters effective workers’ bargaining power, muting the wage sensitivity to unemployment. We validate the relevance of this channel in the data by showing that robot adoption reduces the sensitivity of inflation to unemployment relatively more in highly unionized metropolitan areas. [Resumen de autor] [eng] |
| Restricciones |
Acceso electrónico RESTRINGIDO por IP a los usuarios de la Biblioteca del Banco de España |
| Acceso electrónico |
 Acceso al texto completo. |
| Relacionado con |
Documentos de Trabajo / Banco de España ; 2536 |
| Clasificación |
E1-Renta, empleo y precios. |
| Materia |
Desempleo |
|
Automatización |
|
Curva de Phillips |
| Materia |
Estados Unidos |
