RT Generic
T1 The implications of automation for economic growth and the labor share
A1 Prettner,Klaus
WP 2016/11/03
AB We introduce automation into a standard model of capital accumulation and
show that (i) there is the possibility of perpetual growth, even in the absence
of technological progress; (ii) the long-run economic growth rate declines with
population growth, which is consistent with the available empirical evidence; (iii)there is a unique share of savings diverted to automation that maximizes long-run growth; (iv) the labor share declines with automation to an extent that fits to the observed pattern over the last decades.
K1 Automation
K1 Wirtschaftliches Wachstum
K1 Arbeitsteilung
PP Hohenheim
PB Kommunikations-, Informations- und Medienzentrum der Universität Hohenheim
UL http://opus.uni-hohenheim.de/volltexte/2016/1288