Robotization and labor supply in the context of a dynamic monopsony: novel evidence from South Korea

Date

2022-08-31

Supervisor/s

Journal Title

Journal ISSN

Volume Title

Publisher

Institute of Economic Research (Korea) et al.,

Department

Type

Article

ISSN

1225-0279

Format

Free to read from

Citation

Saade A, Alexiou C, Belghitar Y. (2022) Robotization and labor supply in the context of a dynamic monopsony: novel evidence from South Korea. Seoul Journal of Economics, Volume 35, Issue 3, 2022, pp. 207-240

Abstract

We estimate the effects of robotization on labor supply in Manufacturing, Services and the whole of the South Korean economy using exponential hazard and a random effects logit methodologies over the period 1999-2019. Our findings suggest that a larger operational stock of industrial robots in manufacturing is associated with manufacturing (non-manufacturing) workers becoming more (less) responsive to a change in wages in their decision to quit to non-employment, whilst the ease with which firms can poach workers is found to be unaffected by robotization.

Description

Software Description

Software Language

Github

Keywords

Automation, Dynamic monopsony, Elasticity of labor supply, Industrial robots, Labor share, South Korea

DOI

Rights

Attribution-NonCommercial 4.0 International

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