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Persistent link: https://www.econbiz.de/10010361901
Several recent theories emphasize the negative effects of an aging population on economic growth, either because of the lower labor force participation and productivity of older workers or because aging will create an excess of savings over desired investment, leading to secular stagnation. We...
Persistent link: https://www.econbiz.de/10011689142
We argue theoretically and document empirically that aging leads to greater (industrial) automation, and in particular, to more intensive use and development of robots. Using US data, we document that robots substitute for middle-aged workers (those between the ages of (36 and 55). We then show...
Persistent link: https://www.econbiz.de/10011820230