Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251717 
Year of Publication: 
2021
Citation: 
[Journal:] Journal of Mathematical Economics and Finance [ISSN:] 2458-0813 [Volume:] 7 [Issue:] 2 [Publisher:] ASERS Publishing [Place:] Craiova [Year:] 2021 [Pages:] 7-15
Publisher: 
ASERS Publishing, Craiova
Abstract: 
Robots are introduced into a real-business-cycle setup augmented with a detailed government sector. Robots are modelled as an imperfect substitute for labour services. The model is calibrated to Bulgarian data for the period following the intro- duction of the currency board arrangement (1999-2020). The quantitative importance of the presence of robots in the economy is investigated for business cycle fluctuations in Bulgaria. In the 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.
Subjects: 
business cycles
robots
Bulgaria
JEL: 
E24
E32
Document Type: 
Article
Document Version: 
Manuscript Version (Preprint)
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