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Mr. Andrew Berg, Lahcen Bounader, Nikolay Gueorguiev, Hiroaki Miyamoto, Mr. Kenji Moriyama, Ryota Nakatani, and Luis-Felipe Zanna
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.
Vitor Gaspar, Mr. Paolo Mauro, and Mr. Tigran Poghosyan

Front Matter Page Fiscal Affairs Department Content I. Introduction II. The “Old Masters” on Assessing Equity and Efficiency A. Eliciting Observers’ Aversion to Inequality: Okun’s “Leaky Bucket” Exercise B. Eliciting Observers’ Aversion to Inequality: Functional Forms C. Summarizing Society’s Welfare: Equally-Distributed-Equivalent Incomes D. Relationship between Okun’s Leaky Bucket Exercise and Atkinson’s Equally-Distributed-Equivalent Income E. Links to Related Studies III. Empirical Applications A. Average Incomes and

International Monetary Fund

Estimates of the Logit Model–Dependent Variable: Probability of Being Poor 11. Results of the Estimates of the Pooled Logit Model–Dependent Variable: Probability of Being Poor Text Boxes 1. Financial Crises, Poverty, and Income Distribution 2. The Financial Crisis Literature: An Overview Text Figure 1. Distribution of Equivalent Expenditure in 1994 Pesos Appendix 1. Data and Methods Appendix Tables 12. Distribution by Average Equivalent Income Deciles of Selected Indicators 13. Results of the Estimates of the Logit Model–Dependent Variable