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Decreasing fertility, economic growth and the intergenerational wage gap

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  • Klaus Prettner

    ()

  • Alexia Prskawetz

    ()

Abstract

Persistent low fertility rates lead to lower population growth rates and eventually also to decreasing population sizes in most industrialized countries. There are fears that this demographic development is associated with declines in per capita GDP and possibly also increasing inequality of the wage distribution. We investigate whether this is true in the context of neoclassical growth models, augmented with endogenous fertility decisions and endogenous educational decisions. Furthermore we allow for imperfect substitutability across workers of different age in the production process and learning by doing effects as well as human capital depreciation. In particular, we assess the intergenerational wage redistribution effects which follow after a demographic change to persistent low fertility rates.

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File URL: http://hdl.handle.net/10.1007/s10663-010-9127-2
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Bibliographic Info

Article provided by Springer in its journal Empirica.

Volume (Year): 37 (2010)
Issue (Month): 2 (May)
Pages: 197-214

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Handle: RePEc:kap:empiri:v:37:y:2010:i:2:p:197-214

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Web page: http://www.springerlink.com/link.asp?id=100261

Related research

Keywords: Population decline; Economic growth; Intergenerational wage gap; J13; O15; O16;

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References

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  1. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
  2. Becker, Gary S & Tomes, Nigel, 1976. "Child Endowments and the Quantity and Quality of Children," Journal of Political Economy, University of Chicago Press, vol. 84(4), pages S143-62, August.
  3. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  4. Philippe Aghion & Peter Howitt, 1990. "A Model of Growth Through Creative Destruction," NBER Working Papers 3223, National Bureau of Economic Research, Inc.
  5. RobertJ. Willis, 1974. "Economic Theory of Fertility Behavior," NBER Chapters, in: Economics of the Family: Marriage, Children, and Human Capital, pages 25-80 National Bureau of Economic Research, Inc.
  6. Jones, Charles I, 1995. "R&D-Based Models of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 103(4), pages 759-84, August.
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Cited by:
  1. Holger Strulik & Klaus Prettner & Alexia Prskawetz, 2011. "R&D-based Growth in the Post-modern Era," PGDA Working Papers 7411, Program on the Global Demography of Aging.
  2. Klaus Prettner & Alexia Prskawetz, 2010. "Demographic Change in Models of Endogenous Economic Growth. A Survey," Working Papers 1008, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
  3. Theresa Grafeneder-Weissteiner & Klaus Prettner, 2010. "Agglomeration processes in ageing societies," Working Papers 1005, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
  4. Thomas Fent & Belinda Aparicio Diaz & Alexia Prskawetz, 2010. "Family Policies in the Context of Low Fertility and Social Structure," Working Papers 1102, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
  5. Bilal Barakat & Johannes Holler & Klaus Prettner & Julia Schuster, 2010. "The Impact of the Economic Crisis on Labour and Education in Europe," Working Papers 1006, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.

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