Economic growth depends on human resources and human needs. The demographic age structure shapes both of these factors. We study five-year data from the OECD countries 1950-90 in the framework of a human capital augmented neoclassical growth model with gradual technical adjustment due to technology barriers. The growth patterns of GDP per worker (labor productivity) in the OECD countries are to a large extent explained by age structure changes. The 50-64 age group has a positive influence, and the group above 65 contributes negatively, while younger age groups have ambiguous effects. This paper shows that previously reported regression results are robust to a wide variety of sensitivity test: inclusion of educational and other control variables; time window definitions; age group definitions; outliers and heteroskedasticity corrections, etc.
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Paper provided by Uppsala University, Department of Economics in its series Working Paper Series with number
1996:12.
Length: 38 pages Date of creation: 23 Aug 1996 Date of revision: Publication status: Published in Journal of Population Economics, 1999, pages 431-449. Handle: RePEc:hhs:uunewp:1996_012
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Find related papers by JEL classification: J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends and Forecasts O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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