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Does robot density influence the effects of monetary policy?
[Les taux de robotisation influencent-ils les effets de la politique monétaire ?]

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  • Stéphane Lhuissier

Abstract

In a context where industrial jobs may be replaced by robots, this post shows that monetary policy is transmitted differently depending on industrial sectors’ degree of robotisation. Jobs in heavily robotised industries are half as sensitive to an interest rate change as those in low-robotisation industries. Dans un contexte où les emplois industriels peuvent être remplacés par des robots, ce billet montre que la politique monétaire se transmet de façon différente selon le degré de robotisation d’un secteur industriel. Les emplois dans les industries fortement robotisées sont deux fois moins sensibles à une variation de taux d’intérêt que ceux dans les industries peu robotisées.

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Handle: RePEc:bfr:econot:277
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File URL: https://www.banque-france.fr/en/publications-and-statistics/publications/does-robot-density-influence-effects-monetary-policy
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File URL: https://www.banque-france.fr/fr/publications-et-statistiques/publications/les-taux-de-robotisation-influencent-ils-les-effets-de-la-politique-monetaire
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