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Endogenous fertility and human capital in a Schumpeterian growth model

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  • Angus Chu

    ()

  • Guido Cozzi

    ()

  • Chih-Hsing Liao

    ()

Abstract

This study develops a scale-invariant Schumpeterian growth model with endogenous fertility and human capital accumulation. The model features two engines of long-run economic growth: R&D-based innovation and human capital accumulation. One novelty of this study is endogenous fertility, which negatively affects the growth rate of human capital. Given this growth-theoretic framework, we characterize the dynamics of the model and derive comparative statics of the equilibrium growth rates with respect to structural parameters. As for policy implications, we analyze how patent policy affects economic growth through technological progress, human capital accumulation, and endogenous fertility. In summary, we find that strengthening patent protection has (a) a positive effect on technological progress, (b) a negative effect on human capital accumulation through a higher rate of fertility, and (c) an ambiguous overall effect on economic growth. Copyright Springer-Verlag 2013

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Bibliographic Info

Article provided by Springer in its journal Journal of Population Economics.

Volume (Year): 26 (2013)
Issue (Month): 1 (January)
Pages: 181-202

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Handle: RePEc:spr:jopoec:v:26:y:2013:i:1:p:181-202

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Related research

Keywords: Economic growth; Endogenous fertility; Patent policy; O31; O34; O40;

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References

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Cited by:
  1. Ken-ichi Hashimoto & Ken Tabata, 2013. "Rising Longevity, Human Capital and Fertility in Overlapping Generations Version of an R&D-based Growth Model," Discussion Paper Series 104, School of Economics, Kwansei Gakuin University, revised May 2013.

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