Technology shocks unbalance job market – paper
A technology shock that permanently raises productivity leads to unemployment, authors say
A research team from the Kansas City Fed examines the response of the US labour force to technology and discount factor shocks.
Didem Tüzemen and Willem Van Zandweghe base their investigation on quarterly data derived from US labour force participation and the unemployment rate. To better understand job market fluctuations, they examine the developments in these datasets against periods of rapid technological advancements, discount factor shocks and output cycles.
They find labour force
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