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 long-growth. The reason is that automation suppresses wages, which …

We argue theoretically and document empirically that aging leads to greater (industrial) automation, and in particular … older to middle-aged workers — is associated with greater adoption of robots and other automation technologies across … development of automation technologies in countries undergoing greater demographic change. Our directed technological change model …

We assess the long-run growth effects of automation in the overlapping generations framework. Although automation …. The reason is that automation suppresses wage income, which is the only source of investment in the overlapping … generations model. Our result stands in sharp contrast to the representative agent setting with automation, where sustained long …

finding might reflect the more rapid adoption of automation technologies in countries undergoing more pronounced demographic …