Economic growth with human, physical, and automation capital: The role of population decline

2026

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AI-generated summary

1) This paper demonstrates that positive per capita economic growth can be sustained even with declining populations by analyzing the interplay of human, physical, and automation capital.
2) * Explores how automation and education can mitigate the negative economic effects of population decline.
* Develops a model where output growth is sustained by physical and human capital accumulation, with household savings playing a key role.
* Shows that the income share of raw labor declines while the human capital share remains constant.
3) Economic growth, population decline, automation, human capital, physical capital

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