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ResearchPaper
2017
The lost race against the machine : automation, education and inequality in an R&D-based growth model
The lost race against the machine : automation, education and inequality in an R&D-based growth model
Abstract (English)
We analyze the effect of automation on economic growth and inequality in an R&D-based growth model with two types of labor: highskilled labor that is complementary to machines and low-skilled labor that is a substitute for machines. The model predicts that innovationdriven growth leads to increasing automation, an increasing skill premium, an increasing population share of graduates, increasing income and wealth inequality, a declining labor share, and (in an extension of the basic model) increasing unemployment. In contrast to Pikettys famous claim that faster economic growth reduces inequality, our theory predicts that faster economic growth promotes inequality.
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Notes
Publication license
Publication series
Hohenheim discussion papers in business, economics and social sciences; 2017,08
Published in
Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institute of Economics
Examination date
Supervisor
Edition / version
Citation
Identification
DOI
ISSN
ISBN
Language
English
Publisher
Publisher place
Classification (DDC)
330 Economics
Original object
Free keywords
Standardized keywords (GND)
Sustainable Development Goals
BibTeX
@techreport{Prettner2017,
url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6129},
author = {Prettner, Klaus and Strulik, Holger},
title = {The lost race against the machine : automation, education and inequality in an R&D-based growth model},
year = {2017},
school = {Universität Hohenheim},
series = {Hohenheim discussion papers in business, economics and social sciences},
}