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From secular stagnation to robocalypse? Implications of demographic and technological changes

Henrique Basso () and Juan F Jimeno ()

No 2004, Working Papers from Banco de España, Working Papers Homepage

Abstract: Demographic change and automation are two main structural trends shaping the macroeconomy in the next decades. We present a general equilibrium model with a tractable life-cycle structure that allows the investigation of the main transmission mechanisms by which demography and technology affect economic growth. Due to a trade-off between innovation and automation, lower fertility and population ageing lead to reductions in GDP per capita growth and the labour income share. During the demographic transition, the extent growth and factor shares are affected depends on alternative labour market confi gurations and scenarios for the integration of robots in economic activity.

Keywords: population ageing; automation; innovation (search for similar items in EconPapers)
JEL-codes: O31 O40 J11 (search for similar items in EconPapers)
Pages: 62 pages
Date: 2020-05
New Economics Papers: this item is included in nep-acc, nep-cfn and nep-sbm
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Working Paper: From Secular Stagnation to Robocalypse? Implications of Demographic and Technological Changes (2019) Downloads
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