A Real-Business-Cycle Model with Robots: Lessons for Bulgaria

dc.contributor.author	Vasilev, Aleksandar
dc.date.accessioned	2023-03-15T10:15:34Z
dc.date.available	2023-03-15T10:15:34Z
dc.date.issued	2022-01-01
dc.identifier.issn	2367-7082
dc.identifier.uri	http://elib.ipa.government.bg:8080/xmlui/handle/123456789/1220
dc.description	Robots are introduced into a real-business-cycle setup augmented with a detailed gov-ernment sector. Robots are modeled as an imperfect substitute for labor services. Themodel is calibrated to Bulgarian data for the period following the introduction of thecurrency board arrangement (1999-2020). The quantitative importance of the presenceof robots in the economy is investigated for business cycle fluctuations in Bulgaria. Inthe 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.	bg_BG
dc.language.iso	en	bg_BG
dc.publisher	Center for Economic Theories and Policies, Sofia University St. Kliment Ohridski	bg_BG
dc.title	A Real-Business-Cycle Model with Robots: Lessons for Bulgaria	bg_BG
dc.type	Article	bg_BG