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ISEG 2S SEMINAR | Information Technologies and Jobless Recoveries

05 Jul from 14:00 to 14:01
Quelhas 6 | Piso 3 | Sala Santander Totta

 

Speaker






Miguel Morin








Columbia University





Presentation



Information Technologies and Jobless Recoveries

Abstract

Jobless recoveries followed each of the last three recessions in the United States. This paper presents a model where firms use recessions as an opportunity to substitute workers with capital. This substitution of factors now involves Information Technologies because computers have recently become cheap and competitive compared to workers. As a consequence, specific jobs will disappear in the longterm and they may disappear earlier if there is a recession. In recent recoveries, firms avoid hiring workers because they invest in computers instead. In effect, the recession accelerates the disappearance of specific jobs and their replacement with computers. Quantitatively, the model replicates the dynamics of employment in postwar recoveries. Empirically, this paper shows that the replacement of workers with computers may be responsible for the destruction of 5 million jobs over the 2007-2010 recession and recovery.



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ORGANIZING TEAM

This seminars series is organized by

Margarida Abreu

(ECO),

Raquel M. Gaspar

(FIN/MG) and

Isabel Proença

(QM).


MEETING THE SPEAKER



All speakers are available to meet faculty at ISEG during the afternoon after the talk. Slots are limited. To book your time with the speaker, contact one of the coordination team members.


MAILING LIST


To join the ISEG 2S Seminar Mailing List and receive regular information contact

Filomena Ferreira

.


PARKING


If you come to the seminars at ISEG by car, please contact

Filomena Ferreira

to assure your entrance into the park.