02529cas a2200337 a 4500 AALejournalIMF021879 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513592961 1018-5941 BD-DhAAL BD-DhAAL Berg, Andrew. For the Benefit of All : Fiscal Policies and Equity-Efficiency Trade-offs in the Age of Automation / Andrew Berg, Lahcen Bounader, Nikolay Gueorguiev, Hiroaki Miyamoto. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (44 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 Many studies predict massive job losses and real wage decline as a result of the ongoing widespread automation of production, a trend that may be further aggravated by the COVID-19 crisis. Yet automation is also expected to raise productivity and output. How can we share the gains from automation more widely, for the benefit of all? And what are the attendant equity-efficiency trade-offs? We analyze this issue by considering the effects of fiscal policies that seek to redistribute the gains from automation and address income inequality. We use a dynamic general equilibrium model with monopolistic competition, including a novel specification linking corporate power to automation. While fiscal policy cannot eliminate the classic equity-efficiency trade-offs, it can help improve them, reducing inequality at small or no loss of output. This is particularly so when policy takes advantage of novel, less distortive transmission channels of fiscal policy created by the empirically observed link between corporate market power and automation. Mode of access: Internet Aggregate Factor Income Distribution imf Fiscal Policies and Behavior Of Economic Agents imf Innovation imf Research and Development imf Technological Change imf Bounader, Lahcen. Gueorguiev, Nikolay. Miyamoto, Hiroaki. IMF Working Papers; Working Paper ; No. 2021/187 Full text available on IMF http://elibrary.imf.org/view/journals/001/2021/187/001.2021.issue-187-en.xml IMF e-Library