Population aging and sectoral employment shares
AbstractThis paper theoretically investigates the effect of population aging on the employment share of an elder care service industry. We show that there exists the threshold level of income elasticity of demand for the elder care service, above which population aging spurs economic growth. In a closed economy, the threshold level is unity, whereas it exceeds unity in a small open economy.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 115 (2012)
Issue (Month): 3 ()
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Web page: http://www.elsevier.com/locate/ecolet
Aging; Long-term care; Overlapping generations;
Find related papers by JEL classification:
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Bas van Groezen & Lex Meijdam & Harrie A. A. Verbon, 2005. "Serving the old: ageing and economic growth," Oxford Economic Papers, Oxford University Press, vol. 57(4), pages 647-663, October.
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- Sergio Rebelo & Piyabha Kongsamut & Danyang Xie, 2001. "Beyond Balanced Growth," IMF Working Papers 01/85, International Monetary Fund.
- Kongsamut, Piyabha & Rebelo, Sérgio & Xie, Danyang, 1997. "Beyond Balanced Growth," CEPR Discussion Papers 1693, C.E.P.R. Discussion Papers.
- Akira Yakita, 2001. "Uncertain lifetime, fertility and social security," Journal of Population Economics, Springer, vol. 14(4), pages 635-640.
- Rie Fujisawa & Francesca Colombo, 2009. "The Long-Term Care Workforce: Overview and Strategies to Adapt Supply to a Growing Demand," OECD Health Working Papers 44, OECD Publishing.
- Ken-ichi Hashimoto & Ken Tabata, 2010. "Population aging, health care, and growth," Journal of Population Economics, Springer, vol. 23(2), pages 571-593, March.
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