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ResearchPaper
2016
The implications of automation for economic growth and the labor share
The implications of automation for economic growth and the labor share
Abstract (English)
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.
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Hohenheim discussion papers in business, economics and social sciences; 2016,18
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Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institute of Economics
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Language
English
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Classification (DDC)
330 Economics
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BibTeX
@techreport{Prettner2016,
url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6088},
author = {Prettner, Klaus},
title = {The implications of automation for economic growth and the labor share},
year = {2016},
school = {Universität Hohenheim},
series = {Hohenheim discussion papers in business, economics and social sciences},
}