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ResearchPaper
2016

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

DOI

ISSN

ISBN

Language

English

Publisher

Publisher place

Classification (DDC)

330 Economics

Original object

University bibliography

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}, }

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