Robert M. Schmidt (E. Claiborne Robins School of Business, University of Richmond, Richmond, VA 23173, USA) Allen C. Kelley (Department of Economics and Center for Demographic Studies, Duke University, Box 90097, Durham, NC 27708-0097, USA)
Abstract
The widely-observed finding in the literature showing little or no relationship between population growth (and dependency) and saving requires modification based on panel and cross-section estimation of aggregate country data. While such a relationship is still weak in the hybrid Leff-type model, it is now found consistently over time and by stage of development in the Mason variable-growth life-cycle framework, where changes in demographic factors account for a notable part of saving. JEL classification: J11, O15, O16
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Find related papers by JEL classification: J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends and Forecasts O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment
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David E. Bloom & David Canning & Jocelyn E. Finlay, 2008.
"Population Aging and Economic Growth in Asia,"
NBER Chapters,
in: The Economic Consequences of Demographic Change in East Asia, NBER-EASE Volume 19
National Bureau of Economic Research, Inc.
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