Chapter 21 Robotics and Growth

Welcome:
Guest

Frontiers of Economics and Globalization

ISSN: 1574-8715
Series editor(s): Professor Hamid Beladi, Professor E. Kwan Choi

Subject Area: Economics

Content: Series Volumes | Current Volume RSS

Options: To add Favourites and Table of Contents Alerts please take a Emerald profile

Document Information:
Title:	Chapter 21 Robotics and Growth
Author(s):	Erling Steigum
Volume:	11 Editor(s): Olivier de La Grandville ISBN: 978-1-78052-396-5 eISBN: 978-1-78052-397-2
Citation:	Erling Steigum (2011), Chapter 21 Robotics and Growth, in Olivier de La Grandville (ed.) Economic Growth and Development (Frontiers of Economics and Globalization, Volume 11), Emerald Group Publishing Limited, pp.543-555
DOI:	10.1108/S1574-8715(2011)0000011026 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Article type:	Chapter Item
Abstract:	This chapter examines the implications of introducing “robot capital goods” in a one-sector optimal growth model, assuming a high elasticity of substitution between workers and robots. The growth path will either converge to a steady state, or involve endogenous growth without scale effects. In the latter case, the optimal growth rate of output per worker will converge to a positive number that depends on both technological and preference parameter. Moreover, the rate of growth could be increased permanently by subsidizing saving.