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

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: J11 O31 O40 (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
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Related works:
Journal Article: From secular stagnation to robocalypse? Implications of demographic and technological changes (2021)
Working Paper: From Secular Stagnation to Robocalypse? Implications of Demographic and Technological Changes (2019)
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