The Impact of Population Ageing on Technological Progress and TFP Growth, with Application to United States: 1950-2050
AbstractI examine the effect of age-distribution of the society on economic growth through technological progress. I build a multisector economy model that involves population pyramid. I characterize the steady-state of the model for low and high population growth rate. Higher population growth rate yields faster TFP and output growth in the long-run. I analyze dynamic behavior of the economy. I calibrate the model for United States, 1950-2000 and using the estimated parameters I make predictions about the impact of population ageing on economic growth.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 24687.
Date of creation: 05 Dec 2008
Date of revision:
Population Ageing; Demographic Transition; TFP Growth; Technological Progress; Economic Growth Forecast; United States;
Find related papers by JEL classification:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
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