Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/299931 
Year of Publication: 
2024
Series/Report no.: 
IZA Discussion Papers No. 17003
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
The employment to output elasticity has risen from 0.65 during the 1960s and 1970s to 1.25 in the last two decades. We study the role of recent technological change in the evolution of this elasticity along the business cycle. Using the Covid-19-induced shock and an instrumental variable approach as sources of identification, we find that recent technologies augment the employment to output elasticity. We find that employment in sectors characterized with occupations with a high risk of automation are the most affected and that this effect is larger in sectors that have undergone a technology-capital deepening process in the last decades.
Subjects: 
technological change
automation
employment to output elasticity
labor markets
JEL: 
O33
E32
J23
Document Type: 
Working Paper

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