Arbeitspapier
On the possibility of automation-induced stagnation
We analyze the long-run growth effects of automation in the standard overlap- ping generations framework. We show that, in contrast to other neoclassical models of capital accumulation, automation does not promote growth but induces economic stagnation. The reason is that automation suppresses wages, which are the only source of investment in the overlapping generations framework.
- Language
-
Englisch
- Bibliographic citation
-
Series: Hohenheim Discussion Papers in Business, Economics and Social Sciences ; No. 07-2017
- Classification
-
Wirtschaft
Demographic Economics: General
Demand and Supply of Labor: General
Industrialization; Manufacturing and Service Industries; Choice of Technology
Technological Change: Choices and Consequences; Diffusion Processes
One, Two, and Multisector Growth Models
- Subject
-
automation
robots
investment
stagnation
economic growth
overlapping generations model
- Event
-
Geistige Schöpfung
- (who)
-
Gasteiger, Emanuel
Prettner, Klaus
- Event
-
Veröffentlichung
- (who)
-
Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften
- (where)
-
Stuttgart
- (when)
-
2017
- Handle
- URN
-
urn:nbn:de:bsz:100-opus-13389
- Last update
- 10.03.2025, 11:41 AM CET
Data provider
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Gasteiger, Emanuel
- Prettner, Klaus
- Universität Hohenheim, Fakultät Wirtschafts- und Sozialwissenschaften
Time of origin
- 2017
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