Chapter 21 Robotics and Growth

Erling Steigum

A chapter in Economic Growth and Development, 2011, pp 543-555 from Emerald Group Publishing Limited

Abstract: This chapter examines the implications of introducing “robot capital goods” in a one-sector optimal growth model, assuming a high elasticity of substitution between workers and robots. The growth path will either converge to a steady state, or involve endogenous growth without scale effects. In the latter case, the optimal growth rate of output per worker will converge to a positive number that depends on both technological and preference parameter. Moreover, the rate of growth could be increased permanently by subsidizing saving.

Keywords: robotics; capital accumulation; endogenous growth (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:eme:fegzzz:s1574-8715(2011)0000011026

DOI: 10.1108/S1574-8715(2011)0000011026

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