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We study the long-run interaction between Germany’s economic growth trajectory and demographic aging. Using a … 2070. We account for the inherent uncertainty in our projections using Bayesian estimation techniques. Overall, Germany …
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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...
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