01836cas a2200265 a 4500 AALejournalIMF017658 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484300831 1018-5941 BD-DhAAL BD-DhAAL Berg, Andrew. Should We Fear the Robot Revolution? : (The Correct Answer is Yes) / Andrew Berg, Edward Buffie, Luis-Felipe Zanna. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (61 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We may be on the cusp of a 'second industrial revolution' based on advances in artificial intelligence and robotics. We analyze the implications for inequality and output, using a model with two assumptions: 'robot' capital is distinct from traditional capital in its degree of substitutability with human labor; and only capitalists and skilled workers save. We analyze a range of variants that reflect widely different views of how automation may transform the labor market. Our main results are surprisingly robust: automation is good for growth and bad for equality; in the benchmark model real wages fall in the short run and eventually rise, but 'eventually' can easily take generations. Mode of access: Internet Buffie, Edward. Zanna, Luis-Felipe. IMF Working Papers; Working Paper ; No. 2018/116 Full text available on IMF http://elibrary.imf.org/view/journals/001/2018/116/001.2018.issue-116-en.xml IMF e-Library