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Title: Obsolescence Rents: Teamsters, Truckers & Impending Computerization

Citation Type: Miscellaneous

Publication Year: 2024

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Abstract: Technological innovation, such as self-driving trucks, threatens occupations, such as truck drivers, with sudden obsolescence. Using a bare-bones overlapping generations model, we examine an occupation facing possible obsolescence. The occupation pays ‘obsolescence rents,’ with fewer and older workers remaining in the occupation. We study teamsters at the dawn of the motor truck, current occupations threatened by computerization, and truckers dreading robotic trucks. As predicted, wages in threatened occupations rise, employment falls, and the occupations become ‘grayer’. Older workers become more likely to enter and less likely to exit the occupation than young ones and sometimes even increase in number.

Url: https://scholar.google.com/scholar_url?url=https://warwick.ac.uk/fac/soc/economics/staff/ccavounidis/obsolescence_rents_-_teamsters_truckers_and_impending_computerization_cclm.pdf&hl=en&sa=X&d=5122903714801573166&ei=35ZQZ9CgC9yj6rQP9eTrsQo&scisig=AFWwaeYn

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Authors: Cavounidis, Costas; Chai, Qingyuan; Lang, Kevin; Malhotra, Raghav

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Data Collections: IPUMS USA - Ancestry Full Count Data, IPUMS CPS

Topics: Labor Force and Occupational Structure

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