Vasilev, Aleksandar (2021) A Real-Business-Cycle model with robots: Lessons for Bulgaria. Journal of Mathematical Economics and Finance, 7 (2). pp. 7-15. ISSN 2458-0813
Full content URL: https://doi.org/10.14505/jmef.v7.2(13).01
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RBC_robots_2021_accepted.pdf - Whole Document Restricted to Repository staff only 237kB |
Item Type: | Article |
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Item Status: | Live Archive |
Abstract
Robots are introduced into a real-business-cycle setup augmented with a detailed government sector. Robots are modelled as an imperfect substitute for labour services. The model is calibrated to Bulgarian data for the period following the intro- duction of the currency board arrangement (1999-2020). The quantitative importance of the presence of robots in the economy is investigated for business cycle fluctuations in Bulgaria. In the presence of robots, wages increase, but employment falls after a technology shock. However, for plausible parameter values, the effect is predicted to be quite small.
Keywords: | business cycles, robots, Bulgaria |
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Subjects: | L Social studies > L140 Econometrics L Social studies > L130 Macroeconomics |
Divisions: | Lincoln International Business School |
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ID Code: | 48816 |
Deposited On: | 31 May 2022 12:02 |
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