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- handle: 10670/1.4gawfl
- halshs: halshs-02982145
info:eu-repo/semantics/OpenAccess
Mots-clés
Routine-biased technological change Job polarization VAR Long- run restrictions Hours worked Business cycle E - Macroeconomics and Monetary Economics/E.E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy/E.E2.E24 - Employment • Unemployment • Wages • Intergenerational Income Distribution • Aggregate Human Capital • Aggregate Labor Productivity E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles/E.E3.E32 - Business Fluctuations • Cycles J - Labor and Demographic Economics/J.J2 - Demand and Supply of Labor/J.J2.J23 - Labor Demand J - Labor and Demographic Economics/J.J2 - Demand and Supply of Labor/J.J2.J24 - Human Capital • Skills • Occupational Choice • Labor Productivity J - Labor and Demographic Economics/J.J3 - Wages, Compensation, and Labor Costs/J.J3.J31 - Wage Level and Structure • Wage DifferentialsSujets proches
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Sébastien Bock et al., « Routine-Biased Technological Change and Hours Worked over the Business Cycle », HAL-SHS : économie et finance, ID : 10670/1.4gawfl
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Résumé
Technological change has been biased towards replacing routine labor over the past four decades. We study the implications of those shifts in the task composition of labor demand over the business cycle. We build quarterly time series on hours worked and task premiums from the CPS and assess the e_ects of routine-biased technological change by estimating a VAR model with long-run exclusion and sign restrictions. The decline in total hours worked is driven by routine-biased technology shocks through a decline in routine hours. These shocks appear quantitatively relevant and generate recognizable aggregate uctuations pointing out their relevance to business cycles.