Robotization and Labor Supply in the Context of a Dynamic Monopsony: Novel Evidence from South Korea
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, 35(3), pp. 207-240. doi: 10.22904/sje.2022.35.3.001
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.
| Publication Type: | Article |
|---|---|
| Publisher Keywords: | Automation, Dynamic monopsony, Elasticity of labor supply, Industrial robots, Labor share, South Korea |
| Subjects: | D History General and Old World > DS Asia H Social Sciences > HD Industries. Land use. Labor Q Science > QA Mathematics > QA75 Electronic computers. Computer science |
| Departments: | Bayes Business School Bayes Business School > Management |
| SWORD Depositor: |
Available under License Creative Commons Attribution Non-commercial.
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