Les extendemos la invitación al seminario que organiza el Departamento de Economía, en el que se presentará el trabajo titulado "The Role of New Technologies on Output Elasticity of Employment".

Expone: Alejandro Micco, Profesor Asociado, Facultad de Economía y Negocios, Universidad de Chile.

Coautor: Pablo Egaña

Abstract: We study the role that new technology plays in output elasticity of employment using the Covid-19-induced shock as a source of identification. Employment experienced a large contraction and then a rebound that, while steep, still did not reach its pre-trend level. We observe that employment in occupations at risk of automation (OaRA) are the most affected and that the output elasticity of employment is substantially larger than previous crises. This effect mainly occurs in sectors characterized by high previous investment in technology-capital. Firms reduce production, cutting flexible inputs such as labor. Investment irreversibility implies that firms cut more employment in occupations with a higher elasticity of substitution with ICT. During output rebound, the opposite should be true, although to a lower level due to the secular trend in ICT prices and adjustment costs. We find strong empirical evidence of this behavior in the US labor market. 

El formato será presencial y el seminario se desarrollará en la Sala P-304.

Saludos cordiales,

Dirección de Investigación