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

Aleksandar Vasilev

Bulgarian Economic Papers from Faculty of Economics and Business Administration, Sofia University St Kliment Ohridski - Bulgaria // Center for Economic Theories and Policies at Sofia University St Kliment Ohridski

Abstract: Robots are introduced into a real-business-cycle setup augmented with a detailed government sector. Robots are modelled as an imperfect substitute for labor services. The model is calibrated to Bulgarian data for the period following the introduction of the currency board arrangement (1999-2020). The quantitative importance of the presence of robots in the economy is investigated for business cycle fluctuations inBulgaria. 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)
Pages: 11 pages
Date: 2022-01, Revised 2022-01
New Economics Papers: this item is included in nep-cwa, nep-dge and nep-mac
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https://www.uni-sofia.bg/index.php/eng/content/dow ... file/BEP-2022-01.pdf First version, 2022 (application/pdf)

Related works:
Journal Article: A Real-Business-Cycle model with robots: Lessons for Bulgaria (2021)
Working Paper: A Real-Business-Cycle model with robots: Lessons for Bulgaria (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:sko:wpaper:bep-2022-01

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