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Demographic Change in Models of Endogenous Economic Growth. A Survey

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Author Info

  • Klaus Prettner
  • Alexia Prskawetz

Abstract

The purpose of this article is to identify the role of population size, population growth and population ageing in models of endogenous economic growth. While in exogenous growth models demographic variables are linked to economic prosperity mainly via the population size, the structure of the workforce, and the capital intensity of workers, endogenous growth models and their successors also allow for interrelationships between demography and technological change. However, most of the existing literature considers only the interrelationships based on population size and its growth rate and does not explicitly account for population ageing. The aim of this paper is (a) to review the role of population size and population growth in the most commonly used economic growth models (with a focus on endogenous economic growth models), (b) discuss models that also allow for population ageing, and (c) sketch out the policy implications of the most commonly used endogenous growth models and compare them to each other.

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File URL: http://www.oeaw.ac.at/vid/download/WP2010_08.pdf
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Bibliographic Info

Paper provided by Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna in its series Working Papers with number 1008.

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Length: 23 pages
Date of creation: Oct 2010
Date of revision:
Handle: RePEc:vid:wpaper:1008

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Web page: http://www.oeaw.ac.at/vid/

Related research

Keywords: Demographic change; endogenous R&D; economic growth;

This paper has been announced in the following NEP Reports:

References

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  1. Klaus Prettner, 2009. "Population ageing and endogenous economic growth," Working Papers 0908, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
  2. Klaus Prettner & Alexia Prskawetz, 2009. "Decreasing Fertility, Economic Growth and the Intergenerational Wage Gap," Working Papers 0906, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
  3. Kuhn, Michael & Wrzaczek, Stefan & Prskawetz, Alexia & Feichtinger, Gustav, 2011. "Externalities in a life cycle model with endogenous survival," Journal of Mathematical Economics, Elsevier, vol. 47(4-5), pages 627-641.
  4. Theresa Grafeneder-Weissteiner & Klaus Prettner, 2010. "Agglomeration processes in ageing societies," Working Papers 1005, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
  5. Hippolyte D'Albis, 2007. "Demographic structure and capital accumulation," Post-Print hal-00630200, HAL.
  6. de la Croix, David & Licandro, Omar, 1999. "Life expectancy and endogenous growth," Economics Letters, Elsevier, vol. 65(2), pages 255-263, November.
  7. Bilal Barakat & Johannes Holler & Klaus Prettner & Julia Schuster, 2010. "The Impact of the Economic Crisis on Labour and Education in Europe," Working Papers 1006, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
  8. Stefan Wrzaczek & Michael Kuhn & Alexia Prskawetz & Gustav Feichtinger, 2009. "The Reproductive Value in Distributed Optimal Control Models," Working Papers 0906, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.
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Citations

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Cited by:
  1. Strulik, Holger & Prettner, Klaus & Prskawetz, Alexia, 2011. "R&D-based growth in the post-modern era," ECON WPS - Vienna University of Technology Working Papers in Economic Theory and Policy 04/2011, Vienna University of Technology, Institute for Mathematical Methods in Economics, Research Group Economics (ECON).
  2. Klaus Prettner & David Canning, 2012. "Increasing life expectancy and optimal retirement:does population aging necessarily undermine economic prosperity?," PGDA Working Papers 9112, Program on the Global Demography of Aging.
  3. Prettner, Klaus & Bloom, David E. & Strulik, Holger, 2012. "Declining Fertility and Economic Well-Being: Do Education and Health Ride to the Rescue?," IZA Discussion Papers 6527, Institute for the Study of Labor (IZA).
  4. Thomas Fent & Belinda Aparicio Diaz & Alexia Prskawetz, 2010. "Family Policies in the Context of Low Fertility and Social Structure," Working Papers 1102, Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna.

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