A Real-Business-Cycle model with robots: Lessons for Bulgaria

Aleksandar Vasilev

EconStor Open Access Articles and Book Chapters, 2021, vol. 7, issue 2, 7-15

Abstract: Robots are introduced into a real-business-cycle setup augmented with a detailed government sector. Robots are modelled as an imperfect substitute for labour services. The model is calibrated to Bulgarian data for the period following the intro- duction of the currency board arrangement (1999-2020). The quantitative importance of the presence of robots in the economy is investigated for business cycle fluctuations in Bulgaria. In the presence of robots, wages increase, but employment falls after a technology shock. However, for plausible parameter values, the effect is predicted to be quite small.

Keywords: business cycles; robots; Bulgaria (search for similar items in EconPapers)
JEL-codes: E24 E32 (search for similar items in EconPapers)
Date: 2021
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https://www.econstor.eu/bitstream/10419/251717/1/RBC_robots_2021.pdf (application/pdf)

Related works:
Working Paper: A Real-Business-Cycle model with robots: Lessons for Bulgaria (2022)
Working Paper: A Real-Business-Cycle model with robots: Lessons for Bulgaria (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:251717

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