Obsolescence Rents : Teamsters, Truckers, and Impending Innovations

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Obsolescence Rents : Teamsters, Truckers, and Impending Innovations

Cavounidis, Costas / Chai, Qingyuan / Lang, Kevin / Malhotra, Raghav / National Bureau of Economic Research

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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Title :

Obsolescence Rents : Teamsters, Truckers, and Impending Innovations

Contributors:

Cavounidis, Costas (author) / Chai, Qingyuan (author) / Lang, Kevin (author) / Malhotra, Raghav (author) / National Bureau of Economic Research (issuing body)

Published in:

NBER working paper series ; no. w31743

Publication date :

2023

Size :

1 Online-Ressource

Remarks:

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.

Type of media :

Book

Type of material :

Electronic Resource

Language :

English

Keywords :

Beschäftigungseffekt , Logistikberufe , Overlapping Generations , USA , Disruptive Innovation , Lastkraftwagen , Elektrofahrzeug