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The future of growth and distribution in an economy with automation technology

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  • Hiroaki Sasaki

    (Kyoto University)

Abstract

This study aims to investigate the effects of automation technology on income inequality with a growth model based on the automation capital approach. Our model adds automation capital as a third production factor alongside labor and traditional capital. We employ an infinite-horizon dynamic optimization model for capitalists and a two-period overlapping generations model for workers. We investigate the long-run dynamics of the input ratios of the production factors, income distribution, income inequality, and per capita output growth. Depending on the relative sizes of the discount factors of capitalists and workers, various dynamics are produced.

Suggested Citation

  • Hiroaki Sasaki, 2025. "The future of growth and distribution in an economy with automation technology," Journal of Economics, Springer, vol. 145(1), pages 1-30, June.
    • Handle: RePEc:kap:jeczfn:v:145:y:2025:i:1:d:10.1007_s00712-024-00891-w
    DOI: 10.1007/s00712-024-00891-w
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    More about this item

    Keywords

    Automation; Endogenous growth; Labor; Capital; Income distribution;
    All these keywords.

    JEL classification:

    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

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