The authors show that the decline in births has not had any significant negative effects on aggregate GDP or total income.
The proposed explanation is that the shortage of young workers drives the adoption of labour-saving technologies, thereby increasing productivity.
The evidence includes higher growth in total factor productivity, more automation patents and a greater presence of technology sectors in economies with lower birth rates.
Overall, the study suggests that population ageing can stimulate technological innovation and offset the negative effects of a reduced labour supplyMateria / lugar / evento: Estructura económica Natalidad Transformaciones demográficas Envejecimiento de la población Mercado de trabajo Productividad Innovación tecnológica Automatización Crecimiento económico Otros autores: Acemoglu, Daron Massachusetts Institute of Technology Otras clasificaciones: 921.3