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implies constant returns to capital and, thus, an AK production side of the economy, positive long-run growth does not emerge …
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We analyze the long-run growth effects of automation in the canonical overlapping generations framework. While automation implies constant returns to capital within this model class (even in the absence of technological progress), we show that it does not have the potential to lead to positive...
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program on the world economy. The model has 17 major economies and regions each with six sectors of production and trade as … well as a capital goods producing sector. The paper shows how President Trump's economic policies affect the global economy …
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