Скачать или смотреть The Overlapping Generations Model With Automation

This video discusses an extension of the overlapping generations model to capture automation. In contrast to the Solow-Swan model with automation and the Ramsey-Cass-Koopmans model with automation (cf. the references paper of Steigum, 2011), no possibility of perpetual growth emerges. The reason is the demographic structure of the overlapping generations model, where individuals save exclusively out of wage income, whereas in the Solow-Swan model and in the Ramsey-Cass-Koopmans model, they also save out of capital income. However, wage income is reduced by automation, so that automation itself prevents investment from increasing.

The model is described in the original article:

Gasteiger, E., Prettner, K. (2022). Automation, Stagnation, and the Implications, of a Robot Tax. Macroeconomic Dynamics 26, 218 - 249

or in chapter 5 of

Prettner, K., Bloom, D.E. (2020). Automation and Its Macroeconomic Consequences. Theory, Evidence, and Social Impacts, Elsevier, Amsterdam, NL.