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R. Maria del-Rio Chanona on Modeling Labor Markets & Tech Unemployment

COMPLEXITY

CHAPTER

The Probability of Automation in the Economy

The model can be flexible and can assume different levels, but that was the starting point. The ones with high automation probability are gonna decrease it. On average, we're gonna stay constant. So sorry, recapping is some random fluctuations. This force that drives the economy towards new jobs. And then the adaptation of workers and they transitioning between occupations. Three simple rules. That's it,. We put the shock, we let it run and what we observe is how much unemployment changes in our occupation and how much long-term unemployment changes.

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