Imitation Versus Innovation In An Aging Society: International Evidence Since 1870
AbstractThe budgetary implications of an aging population in the OECD are often considered dire. This study argues that this need not be the case provided that older educated workers are more innovative than their younger counterparts, and that workers with tertiary education stay in the labor force until their 60s. Using a panel of 21 OECD countries over the period 1870-2009, this paper estimates the productivity growth effects of education for different age groups, through the channels of innovation and imitation. The results show that educated workers are highly innovative and that the propensity to innovate increases sharply with age.
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Bibliographic InfoPaper provided by Monash University, Department of Economics in its series Monash Economics Working Papers with number 45-12.
Length: 29 pages
Date of creation: Sep 2012
Date of revision:
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Postal: Department of Economics, Monash University, Victoria 3800, Australia
Web page: http://www.buseco.monash.edu.au/eco/
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Find related papers by JEL classification:
- I20 - Health, Education, and Welfare - - Education - - - General
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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- James B. Ang & Jakob B. Madsen, 2011.
"Can Second-Generation Endogenous Growth Models Explain the Productivity Trends and Knowledge Production in the Asian Miracle Economies?,"
The Review of Economics and Statistics,
MIT Press, vol. 93(4), pages 1360-1373, November.
- Ang, James & Madsen, Jakob, 2009. "Can Second-Generation Endogenous Growth Models Explain The Productivity Trends and Knowledge Production In the Asian Miracle Economies?," MPRA Paper 17543, University Library of Munich, Germany.
- James B. Ang & Jakob B. Madsen, 2010. "Can Second-Generation Endogenous Growth Models Explain The Productivity Trends And Knowledge Production In The Asian Miracle Economies?," CAMA Working Papers 2010-05, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- James B. Ang & Jakob B. Madsen, 2013.
"International R&D Spillovers And Productivity Trends In The Asian Miracle Economies,"
Western Economic Association International, vol. 51(2), pages 1523-1541, 04.
- James B. Ang & Jakob B. Madsen, 2012. "International R&D Spillovers And Productivity Trends In The Asian Miracle Economies," Development Research Unit Working Paper Series 03-12, Monash University, Department of Economics.
- Ang, James B. & Madsen, Jakob B. & Rabiul Islam, Md., 2011. "The effects of human capital composition on technological convergence," Journal of Macroeconomics, Elsevier, vol. 33(3), pages 465-476, September.
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