a column by Henrique Basso and Juan F Jimeno for VOX: CEPR’s Policy Portal
Advanced economies will face large demographic and radical technological change in the next decades.
This column shows how demographics and endogenous technological changes, which encompass both innovation and automation, can interact to limit the future prospects for growth and alter the factor income distribution. Due to a trade-off between innovation and automation, lower fertility and population ageing are likely to generate more automation, but also lead to a reduction in GDP per capita growth and the labour income share.
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