Alexia Prskawetz (Institute for Econometrics, Operations Research and Systems Theory, Vienna University of Technology, Argentinierstrasse 8, A-1040 Vienna, Austria) Gunter Steinmann (Department of Economics, Martin-Luther University Halle-Wittenberg, Grosse Steinstrasse 73, D-06108 Halle/Saale, Germany) Gustav Feichtinger (Institute for Econometrics, Operations Research and Systems Theory, Vienna University of Technology, Argentinierstrasse 8, A-1040 Vienna, Austria)
Abstract
We consider a demoeconomic model where output is produced using physical capital, human capital and technology as inputs. Human capital depends on the number of people and the level of education in the economy. The dynamics of labour, physical capital, education and technology are endogenously determined such as to reflect the interdependence between economic and demographic factors. The longrun path of the economy and in particular the possibility to escape the Malthusian trap crucially depend on technological progress, which provides for economy wide increasing returns to scale. The build up of technology is positively related to the stock of human capital. Our model predicts that positive population growth is sufficient to escape the Malthusian trap.
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Find related papers by JEL classification: O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
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