Industrial robots have boosted productivity and growth, but their effect on jobs remains an open question

Abstract

Robots and automated processes have become a feature of many modern workplaces, but what impact do such innovations have on productivity and jobs? Using a new dataset, Georg Graetz and Guy Michaels present an analysis of the economic effects of robots since the early 1990s, noting that they have made a substantial contribution to productivity and aggregate growth. They also write that while fears of robots destroying jobs on a large scale have proven unfounded, there is evidence that they may reduce the employment of low and middle-skilled workers.