Seminar “Macroeconomics and Labor Market” on 3 December 2019
We are pleased to invite you to the seminar series on “Macroeconomics and Labor Markets“ organized by the University of Erlangen-Nuremberg, Chair of Macroeconomics, and the Research Departments for Macroeconomic Labour Market Research of the Institute for Employment Research (IAB). Researchers of both institutions as well as national and international guests are presenting their current work at the intersection of labor and macro economics.
The next seminar will be held on Tuesday, December 3rd 2019:
Nikolai Stähler (Bundesbank)
“The impact of ageing and digitalisation on the macroeconomy and wealth inequality”
Place: University of Erlangen-Nuremberg, Lange Gasse 20, Room 4.154
Time: 12:00 – 1:30 pm
Abstract:
Population aging and digitalisation are two major trends which are going to affect all developed economics in the future. Digitalisation is to be understood here as technological progress in automated production processes using artificial intelligence (AI) or robots. This paper presents a newly developed dynamic general equilibrium model with overlapping generations (OLG model). The model contains a production function, in which human labour can be replaced by automation technologies. Moreover, two different types of labour are modelled in order to shed more light on distributional aspects: “unskilled” labour that can easily be substituted by capital and “skilled” labour that is difficult to substitute. This model is used to examine what impact these two trends have on macroeconomic developments and income and wealth distribution.