The macroeconomic impact of automation: Applications to elderly care

Chia-Hui Lu

Contemporary Economic Policy, 2023, vol. 41, issue 4, 674-695

Abstract: When automation technology can both help a firm's production and be widely used in the provision of long‐term care for the elderly, developments in automation can potentially help alleviate the situation of a declining birthrate in an aging society and increase production and household welfare. In addition, this paper obtains results consistent with the real‐world situation in which population aging and a declining birthrate arise simultaneously. Considering the case where automation technology is developed by firms does not change the main findings. Therefore, the government should encourage people to engage in the development of automation.

Date: 2023
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https://doi.org/10.1111/coep.12618

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