Monthly Report No. 5/2019

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Alexandra Bykova, Leon Podkaminer, Oliver Reiter and Robert Stehrer

wiiw Monthly Report No. 5, May 2019
45 pages including 29 Figures

Current issues accessible exclusively for Members. Free access after an embargo period of six months.

  • Chart of the month: Automation in manufacturing and construction in the EU
    by Alexandra Bykova
     
  • Opinion corner: The digital revolution: Don’t panic – but stay alert 
    by Robert Stehrer
    The impact of new technologies on the labour market will be challenging. But this has to be seen in a broader perspective, beyond the sheer number of jobs expected to be destroyed.
     
  • Robot adoption in the EU-CEE and the rest of the EU 
    by Oliver Reiter
    Economists debate whether the introduction of robots in the production process has the potential to severely disrupt the labour market by inducing massive lay-offs of workers. This article reviews current research on the potential impact of robots on the labour market as well as presents summary statistics on the adoption of robots in the EU.
     
  • Negative natural interest rates and secular stagnation: Much ado about nothing?
    by Leon Podkaminer
    This note is critical of the concept of a natural interest rate and doubts the relevance of claims about the ‘natural’ interest rates becoming negative recently.
     
  • Monthly and quarterly statistics for Central, East and Southeast Europe

 

Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database

Keywords: robot adoption, hourly wages, digital revolution, labour market, value added growth, natural interest rates, secular stagnation, zero lower bound, DSGE models

Countries covered: Advanced countries, European Union

Research Areas: Macroeconomic Analysis and Policy, Labour, Migration and Income Distribution


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