The implications of automation for economic growth when investment decisions are irreversible
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DOI: 10.1016/j.econlet.2019.108757
Abstract: This paper discusses automation embedded into a standard growth model without exogenous growth when investment decisions for physical and automation capital are irreversible. The imposed nonnegativity constraints on physical and automation capital induces an imbalance… read more here.
Keywords: growth investment; growth; investment decisions; physical automation ... See more keywords