We introduce automation into the standard Solovian model of capital accumulation and show that (i) there is the …

We introduce automation into a standard model of capital accumulation and show that (i) there is the possibility of …

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 … older to middle-aged workers — is associated with greater adoption of robots and other automation technologies across …

In a seminal paper Graetz and Michaels (2018) find that robots increase labor productivity and TFP, lower output prices …

In a seminal paper Graetz and Michaels (2018) find that robots increase labor productivity and TFP, lower output prices …

Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital …. Traditional capital and labor are imperfect substitutes whereas automation capital and labor are perfect substitutes. In this … contrast to Prettner, we argue that both kinds of capital are perfect substitutes as stores of value, and, therefore, must earn …

Solow-Swan model. The aggregate production function allows for two types of capital, traditional and automation capital …. Traditional capital and labor are imperfect substitutes whereas automation capital and labor are perfect substitutes. In this … contrast to Prettner, we argue that both kinds of capital are perfect substitutes as stores of value, and, therefore, must earn …

In a seminal paper Graetz and Michaels (2018) find that robots increase labor productivity and TFP, lower output prices … to the negative effects of robots on wages. Additionally, investigating only robotizing sectors does not corroborate …