On the possibility of automation-induced stagnation

Emanuel Gasteiger, Klaus Prettner

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.

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Year of publication:	March 2017
Authors:	Gasteiger, Emanuel ; Prettner, Klaus
Publisher:	Stuttgart, Germany : University of Hohenheim, Faculty of Business, Economics and Social Sciences, Institute of Economics
Subject:	Automation \| robots \| investment \| stagnation \| economic growth \| overlapping generations model \| Overlapping Generations \| Overlapping generations \| Wirtschaftswachstum \| Economic growth \| Roboter \| Robot \| Automatisierung \| Investition \| Investment \| Stagnation \| Wachstumstheorie \| Growth theory

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Extent:	1 Online-Ressource (6 Seiten)
Series:	Hohenheim discussion papers in business, economics and social sciences. - Stuttgart : Univ. Hohenheim, Fak. Wirtschafts- u. Sozialwiss., ISSN 2364-2084, ZDB-ID 2809957-6. - Vol. Discussion paper 07-2017
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Forschungsbericht ; Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/155784 [Handle]
Classification:	J10 - Demographic Economics. General ; J20 - Time Allocation; Work Behavior; Employment Determination and Creation. General ; O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology ; O33 - Technological Change: Choices and Consequences; Diffusion Processes ; O41 - One, Two, and Multisector Growth Models
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011620627