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Demographic and Per Capita Income Dynamics: A Convergence Study on Demographics, Human Capital, and Per Capita Income for the US States

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Author Info
Persson, Joakim (Trade Union Institute for Economic Research)
Abstract

This paper finds that age distribution, educational attainment, and government size converge across the US states at rates rather similar to the convergence rate for per capita income. The main part of the paper takes age distribution variables as exogenous in conditional convergence regressions. Using panel data, the estimated partial relation between age and the subsequent growth rate of per capita income is hump-shaped and of quantitative importance. This result is robust to conditioning on other variables and appear not only to reflect capital-dilution. Another result is that average years of schooling has a positive effect on growth only if age distribution is controlled for. These findings are consistent with an explanation that the age distribution reflects the growth effects of human capital accumulated through experience.

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Paper provided by Trade Union Institute for Economic Research in its series Working Paper Series with number 156.

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Length: 41 pages
Date of creation: 15 Nov 1999
Date of revision:
Handle: RePEc:hhs:fiefwp:0156

Note: A substantially revised version of the paper can be found om the authors personal homepage. http://www.fief.se/Personal%20sites/Joakim/joakim.htm
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Related research
Keywords: Age distribution; Economic growth; Convergence;

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Find related papers by JEL classification:
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
O18 - Economic Development, Technological Change, and Growth - - Economic Development - - - Regional, Urban, and Rural Analyses
O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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