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WIFO Research Seminar (ONLINE) zum Thema "Robots and the rise of European superstar firms"
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Dear Sir or Madam,
WIFO cordially invites you to the next WIFO Research Seminar:
Joel Stiebale (Heinrich Heine University Düsseldorf)
"Robots and the rise of European superstar firms"
Wednesday, 1 December 2021, 1:30 p.m.
Online-seminar via Microsoft-Teams: WIFO Research Seminar_Participation Link
Discussant: Benjamin Bittschi (WIFO)
Abstract:
We study the impact of a recent digital automation technology - industrial robotics - on the distribution of sales, productivity, markups, and profits within industries. Our empirical analysis combines data on the industry-level stock of industrial robots with firms' balance sheet data for six European countries from 2004 to 2013. We find that robots disproportionally raise productivity in those firms that are already most productive to begin with. Those firms are able to increase their markups and overall profits, while they tend to decline for less profitable firms within the same industry, country and year. We also show that robots contribute to the falling aggregate labor income share through a rising concentration of industry sales in highly productive firms with low firm-specific labor shares. In sum, our paper suggests that robots boost the emergence of superstar firms within European manufacturing, and thereby shifts the functional income distribution away from wages and towards profits.
To import this lecture into your calendar, please click here.
We look forward to welcoming you for this lecture!
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Agnes Kügler (Moderatorin/Chair)
WIFO – Österreichisches Institut für Wirtschaftsforschung
Arsenal, Objekt 20
1030 Wien
Tel.: +43 (1) 798 26 01-303
Fax: +43 (1) 798 93 86
Web: http://www.wifo.ac.at
E-Mail: Agnes.Kuegler@wifo.ac.at |
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