Technological unemployment and income inequality: a stock-flow consistent agent-based approach
Laura Barbosa de Carvalho and
Corrado Di Guilmi ()
Journal of Evolutionary Economics, 2020, vol. 30, issue 1, No 4, 39-73
Abstract The paper presents a stock-flow consistent agent-based model with effective demand, endogenous credit creation, and labor-saving technological progress. The aim is to study the joint dynamics of both personal and functional distribution of income as a result of technological unemployment, together with the effect on household debt. Numerical simulations show the potentially destabilizing effect of technological unemployment and reveal that an increase in the profit share of income amplifies the negative effect of income inequality on the business cycle and growth. The sensitivity analysis provides indications on the effectiveness of possible mixes of fiscal and redistributive policies, but also demonstrates that the effectiveness of policy measures is strongly dependent on behavioral and institutional factors.
Keywords: Stock-flow agent-based consistent model; Income inequality; Functional distribution; Technological unemployment; Social imitation (search for similar items in EconPapers)
JEL-codes: C63 D31 E21 E25 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://link.springer.com/10.1007/s00191-019-00628-9 Abstract (text/html)
Access to the full text of the articles in this series is restricted.
Working Paper: Technological unemployment and income inequality: a stock-flow consistent agent-based approach (2019)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:spr:joevec:v:30:y:2020:i:1:d:10.1007_s00191-019-00628-9
Ordering information: This journal article can be ordered from
Access Statistics for this article
Journal of Evolutionary Economics is currently edited by Uwe Cantner, Elias Dinopoulos, Horst Hanusch and Luigi Orsenigo
More articles in Journal of Evolutionary Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().