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Technology-Enabled Disruption: Implications for Business, Labor Markets and Monetary Policy

May 24–25, 2018 Dallas Fed

Organized by the Federal Reserve Bank of Atlanta and Federal Reserve Bank of Dallas

The purpose of the conference is to:

  • Provide a better understanding of technology-enabled disruption and explore its implications for the broader economy, in particular labor markets and the workforce.
  • Promote further research on technology-enabled disruption, which increasingly affects more areas of economic life.

Technology-enabled disruption means that technology is increasingly replacing workers. It also means that new business models, often technology-enabled, are supplanting existing models and adding efficiencies to selling and distributing goods and services. In addition, disruption is reducing the pricing power of businesses as consumers use technology to seek the lowest prices with greater convenience. This, in turn, is causing businesses to further intensify their focus on creating greater operational efficiencies. These trends appear to be accelerating.

Technology-enabled disruption is also likely a factor in individual economic outcomes being increasingly skewed by the educational attainment levels of workers. Workers with lower education levels are seeing their jobs restructured or eliminated. Unless these workers are retrained, they often see their productivity and incomes decline as a result of the disruption. This may help explain why the U.S. and other advanced economies are experiencing muted labor productivity growth and wage gains.

Disruption is likely influencing business decision-making as well. Companies that face one or more disruptive competitors have been more cautious about making capacity-expansion decisions and investing in major capital projects. Disruption may also help explain the record level of merger-and-acquisition activity globally over the past few years as companies attempt to address disruptive changes and lack of pricing power by achieving greater scale economies, which can help them maintain or improve profit margins.

Confirmed speakers include:

Business Leaders

  • Craig Boyan, H-E-B
  • Ray Hunt, Hunt Oil
  • Matt Rose, BNSF
  • Manoj Saxena, Cognitive Scale
  • John Stephens, AT&T
  • Mike Ullman, J.C. Penney (formerly)
  • Rad Weaver, McCombs Partners

Policymakers

  • Raphael Bostic, Federal Reserve Bank of Atlanta
  • Charles Evans, Federal Reserve Bank of Chicago
  • Patrick Harker, Federal Reserve Bank of Philadelphia
  • Robert Kaplan, Federal Reserve Bank of Dallas

Academics

  • David Altig, Federal Reserve Bank of Atlanta
  • Michael Boskin, Stanford University
  • Mary Daly, Federal Reserve Bank of San Francisco
  • Mark Duggan, Stanford University
  • Martin Feldstein, Harvard University
  • Marc Giannoni, Federal Reserve Bank of Dallas
  • John Haltiwanger, University of Maryland
  • Deepak Hegde, New York University Stern School of Business
  • William Kerr, Harvard Business School
  • Joe May, Dallas County Community College District
  • Joel Mokyr, Northwestern University
  • Jan Rivkin, Harvard Business School
  • William Sahlman, Harvard Business School
  • Antoinette Schoar, Massachusetts Institute of Technology Sloan School of Management
  • Sam Schulhofer-Wohl, Federal Reserve Bank of Chicago
  • Willy Shih, Harvard Business School
  • Chad Syverson, University of Chicago Booth School of Business
  • Joseph Tracy, Federal Reserve Bank of Dallas

When

  • Thursday and Friday, May 24–25, 2018

Where

  • Federal Reserve Bank of Dallas
    2200 N. Pearl Street
    Dallas, TX 75201
  • Directions

Registration

  • Online registration coming soon
For More Information

Please contact Dawn Williamson at dawn.williamson@dal.frb.org.

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