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Discussion Papers In Economics And Business. 2020, 20-09, p. 1-31

Dynamic Analysis of Education, Automation, and Economic Growth

Okada, Kohei

Graduate School of Economics, Osaka University

英語

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2020-05

http://www2.econ.osaka-u.ac.jp/econ_society/dp/2009.pdf

Ever since the onset of the Industrial Revolution, automation has had significant impacts on economic growth, labor, the education decision-making of individuals, and education policy. In this study, we aim to examine the complex relationship between education, automation, and economic growth. We employ an overlapping-generations model with endogenous education decision-making and automation. Our findings show that an economy converges to a steady state where automation occurs and per capita output is high if productivity is high. On the other hand, we show that an economy converges to a steady state where automation does not occur and per capita output is low if productivity is low. In addition, we examine how education subsidy policy affects the economy when productivity is low. If the efficiency of education is high, the government can steer an economy away from a steady state without automation by investing more resources in education. If the efficiency of education is low, there can exist multiple steady states where automation occurs in one but not in the other.

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Dynamic Analysis of Education, Automation, and Economic Growth

Okada, Kohei

Graduate School of Economics, Osaka University

英語

2020-05

Discussion Papers In Economics And Business

20-09

1

31

https://hdl.handle.net/11094/75924

http://www2.econ.osaka-u.ac.jp/econ_society/dp/2009.pdf