Ageing and Growth in the Small Open Economy
AbstractWe construct an overlapping generations model for the small open economy whichincorporates a realistic description of the mortality process. Agents engage in educational activities at the start of life and thus create human capital to be used later on in life for production purposes. Depending on the strength of the intergenerational externality in thehuman capital production function, the model gives rise to exogenous or endogenous growth. The effects of demographic shocks and fiscal stimuli on the growth path are derived, both atimpact, during transition, and in the long run.
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Bibliographic InfoPaper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 1740.
Date of creation: 2006
Date of revision:
demography; education; human capital; economic growth; fertility rate; ageing; overlapping generations; small open economy;
Find related papers by JEL classification:
- D91 - Microeconomics - - Intertemporal Choice - - - Intertemporal Household Choice; Life Cycle Models and Saving
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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