change or globalization, but also by the dynamics of factor taxation, automation capital (robots), and population growth … shares and in automation capital. Second, we analyse and calibrate a neoclassical growth model extended to include factor … taxation, automation capital, and capital adjustment costs. Labor and automation capital are perfect substitutes whereas labor …

, automation capital, and population growth. In the empirical analysis, we find indications for cointegrating equations for the … to 22% and up to 35% of observed changes in the two income shares and in automation capital, respectively. In a second … step, we present a standard neoclassical growth model augmented by automation capital and capital adjustment costs that is …

We introduce automation into the standard Solovian model of capital accumulation and show that (i) there is the … diverted to automation that maximizes the long-run growth rate of the economy; (iv) the labor share declines with automation to …

Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the … 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 …

We introduce automation into a standard model of capital accumulation and show that (i) there is the possibility of … automation that maximizes long-run growth; (iv) the labor share declines with automation to an extent that fits to the observed …

Prettner (2019) studies the implications of automation for economic growth and the labor share in a variant of the … 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 …