From secular stagnation to robocalypse? Implications of demographic and technological changes

Demographic change and automation are two major structural trends that will shape the macroeconomy in coming decades. We present a general equilibrium model with tractable lifecycle structure enables investigation of main transmission mechanisms through which demography technology affect economic growth. Owing to trade-off between innovation automation, lower fertility population ageing lead reductions GDP per capita growth labour income share. During demographic transition, extent factor shares affected depends on alternative market configurations scenarios for integration robots into activity.