We consider large, permanent shocks to individual occupations whose arrival date is uncertain. We are motivated by the advent of self-driving trucks, which will dramatically reduce demand for truck drivers. Using a bare-bones overlapping generations model, we examine an occupation facing obsolescence. We show that workers must be compensated to enter the occupation - receiving what we dub obsolescence rents - with fewer and older workers remaining in the occupation. We investigate the market for teamsters at the dawn of the automotive truck as an á propos parallel to truckers themselves, as self-driving trucks crest the horizon. As widespread adoption of trucks drew nearer, the number of teamsters fell, the occupation became 'grayer', and teamster wages rose, as predicted by the model


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    Titel :

    Obsolescence Rents : Teamsters, Truckers, and Impending Innovations


    Beteiligte:
    Cavounidis, Costas (Autor:in) / Chai, Qingyuan (Autor:in) / Lang, Kevin (Autor:in) / Malhotra, Raghav (Autor:in) / National Bureau of Economic Research (Herausgebendes Organ)

    Erschienen in:

    Erscheinungsdatum :

    2023


    Format / Umfang :

    1 Online-Ressource


    Anmerkungen:

    illustrations (black and white)
    Campusweiter Zugriff (Universität Hannover) - Vervielfältigungen (z.B. Kopien, Downloads) sind nur von einzelnen Kapiteln oder Seiten und nur zum eigenen wissenschaftlichen Gebrauch erlaubt. Keine Weitergabe an Dritte. Kein systematisches Downloaden durch Robots.


    Medientyp :

    Buch


    Format :

    Elektronische Ressource


    Sprache :

    Englisch





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