Akar, Gizem; Casalone, Giorgia; Zagler, Martin - 2022
We present a three sector OLG model with a homogenous output good that is produced with traditional or robot technology …. The traditional sector produces with labor and capital, whereas the modern sector employs robots instead of labor. We find … that little can prevent the ascent of a modern economy. In particular, whilst robots are perfect substitutes to labor in …