Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/147306
Authors: 
Prettner, Klaus
Year of Publication: 
2016
Series/Report no.: 
Hohenheim Discussion Papers in Business, Economics and Social Sciences 18-2016
Abstract: 
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.
Subjects: 
automation
robots
machine learning
perpetual economic growth
declining labor share
inequality
JEL: 
O11
O33
O41
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
476.53 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.