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ResearchPaper
2017
On the possibility of automation-induced stagnation
On the possibility of automation-induced stagnation
Abstract (English)
We analyze the long-run growth effects of automation in the standard overlapping 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.
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Publication series
Hohenheim discussion papers in business, economics and social sciences; 2017,07
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Faculty
Faculty of Business, Economics and Social Sciences
Institute
Institute of Economics
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ISBN
Language
English
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Classification (DDC)
330 Economics
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Standardized keywords (GND)
Sustainable Development Goals
BibTeX
@techreport{Gasteiger2017,
url = {https://hohpublica.uni-hohenheim.de/handle/123456789/6128},
author = {Gasteiger, Emanuel and Prettner, Klaus},
title = {On the possibility of automation-induced stagnation},
year = {2017},
school = {Universität Hohenheim},
series = {Hohenheim discussion papers in business, economics and social sciences},
}