Guy Michaels

Technology may not be responsible for jobless recoveries

Since the early 1990s, the US has been plagued by weak employment growth when emerging from recessions – so called ‘jobless recoveries’. Georg Graetz and Guy Michaels look at multiple recoveries elsewhere in the world over a 40-year period to see if the same applies – and whether modern technology is responsible.

Recoveries from recessions in the United States used […]

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    Cities affected by flood often keep economic activity in the vulnerable areas

Cities affected by flood often keep economic activity in the vulnerable areas

Extreme rainfall during December 2015 resulted in widespread flooding across northern England, Scotland and Ireland. With the costs of this one event potentially exceeding $2 billion, an important policy question is why so many people are hit by flooding, particularly in locations that are repeatedly inundated.

The recent events in the British Isles are just one example of a major […]

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    Industrial robots boost productivity and growth, but effect on jobs is an open question

Industrial robots boost productivity and growth, but effect on jobs is an open question

The capacity of robots for autonomous movement and their ability to perform an expanding set of tasks have captured writers’ imaginations for almost a century. Recently, robots have emerged from the pages of science fiction novels into the real world, and discussions of their possible economic effects have become ubiquitous. But a serious problem inhibits these discussions: to date, […]