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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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Publication license
Publication series
Hohenheim discussion papers in business, economics and social sciences; 2016,18
Published in
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Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institute of Economics
Examination date
Supervisor
Cite this publication
Prettner, K. (2016). The implications of automation for economic growth and the labor share. https://hohpublica.uni-hohenheim.de/handle/123456789/6088
Edition / version
Citation
Identification
DOI
ISSN
ISBN
Language
English
Publisher
Publisher place
Classification (DDC)
330 Economics
Original object
University bibliography
Standardized keywords (GND)
Sustainable Development Goals
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},
}