Robotization and labor supply in the context of a dynamic monopsony: novel evidence from South Korea
Date
2022-08-31
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Publisher
Institute of Economic Research (Korea) et al.,
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Type
Article
ISSN
1225-0279
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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
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Keywords
Automation, Dynamic monopsony, Elasticity of labor supply, Industrial robots, Labor share, South Korea
Rights
Attribution-NonCommercial 4.0 International