EconPapers    
Economics at your fingertips  
 

Secular Stagnation? The Effect of Aging on Economic Growth in the Age of Automation

Daron Acemoglu and Pascual Restrepo ()

No 23077, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Several recent theories emphasize the negative effects of an aging population on economic growth, either because of the lower labor force participation and productivity of older workers or because aging will create an excess of savings over desired investment, leading to secular stagnation. We show that there is no such negative relationship in the data. If anything, countries experiencing more rapid aging have grown more in recent decades. We suggest that this counterintuitive finding might reflect the more rapid adoption of automation technologies in countries undergoing more pronounced demographic changes, and provide evidence and theoretical underpinnings for this argument.

JEL-codes: E30 J11 J24 O33 O47 O57 (search for similar items in EconPapers)
Date: 2017-01
New Economics Papers: this item is included in nep-age, nep-gro and nep-mac
Note: EFG
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22) Track citations by RSS feed

Published as Daron Acemoglu & Pascual Restrepo, 2017. "Secular Stagnation? The Effect of Aging on Economic Growth in the Age of Automation," American Economic Review, American Economic Association, vol. 107(5), pages 174-179, May.

Downloads: (external link)
http://www.nber.org/papers/w23077.pdf (application/pdf)

Related works:
Journal Article: Secular Stagnation? The Effect of Aging on Economic Growth in the Age of Automation (2017) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:23077

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w23077

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().

 
Page updated 2020-07-23
Handle: RePEc:nbr:nberwo:23077