This paper surveys recent research on the macroeconomic implications of demographic and technological changes. Lower fertility and increasing longevity have implications on the age population structure and, therefore, on the balance between savings and investment. Jointly with meagre...

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...

This paper revisits the impact of population aging on economic growth. In order to understand the impact of population aging on economic growth, it is important to consider the changes in the entire age distribution of demography. Our empirical analysis indicates that a change in age...

Europe will be challenged by demographic changes over the next few decades, even under favourable assumptions about fertility and migration, but the economic effects are not yet fully understood. This paper studies the effects of population ageing on economic growth, capital deepening and...

The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The combination of a macroeconomic production function and...

The innovative approach presented introduces a modified neoclassical growth model which includes a new bias of technological progress in a quasi-endogenous growth model in which part of labor is used in the research & development sector. The combination of a macroeconomic production function and...

We distinguish learning in a static environment from that in a dynamic environment to show the existence of an important interaction between the development of new technologies and human capital accumulation. Since technological progress creates a more dynamic and uncertain environment, it not...

This paper explores the evolution of child labor, fertility, and human capital in the process of development. In early stages of development the economy is in a development trap where child labor is abundant, fertility is high and output per capita is low. Technological progress, however,...

Chen and Dahlman assess the effects of knowledge on economic growth. By using an array of indicators, each of which represents an aspect of knowledge, as independent variables in cross-section regressions that span 92 countries for the period 1960 to 2000, they show that knowledge is a...

This paper explores the evolution of child labor, fertility, and human capital in the process of development. In early stages of development the economy is in a development trap where child labor is abundant, fertility is high and output per capita is low. Technological progress, however,...