IDEAS home Printed from
   My bibliography  Save this article

Demography In Macroeconomic Models: When Labour Supply Matters For Economic Cycles


  • Piero Manfredi
  • Luciano Fanti


The issue of the onset of Malthusian cycles is investigated by means of a demo-economic model incorporating the age structure of the population. It is shown that the delayed recruitment into the labour force is a major source of demo-economic instability, potentially leading to sustained oscillations. We also compare different modelling strategies for age structure, by showing that the results of our general model are borne out by those provided by a simpler model, based on a representation of age structure via time delays, which allows a deeper mathematical analysis. This suggests that simplified delay models may be of great help in understanding the qualitative properties of complex age structure models. Copyright © 2006 The Authors; Journal compilation © 2006 Blackwell Publishing Ltd.

Suggested Citation

  • Piero Manfredi & Luciano Fanti, 2006. "Demography In Macroeconomic Models: When Labour Supply Matters For Economic Cycles," Metroeconomica, Wiley Blackwell, vol. 57(4), pages 536-563, November.
  • Handle: RePEc:bla:metroe:v:57:y:2006:i:4:p:536-563

    Download full text from publisher

    File URL:
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Ronald Lee, 1974. "The formal dynamics of controlled populations and the echo, the boom and the bust," Demography, Springer;Population Association of America (PAA), vol. 11(4), pages 563-585, November.
    2. Day, Richard H & Kim, Kyoo-Hong & Macunovich, Diane, 1989. "Complex Demoeconomic Dynamics," Journal of Population Economics, Springer;European Society for Population Economics, vol. 2(2), pages 139-159.
    3. Charles I. Jones, "undated". "Population and Ideas: A Theory of Endogenous Growth," Working Papers 98014, Stanford University, Department of Economics.
    4. James Frauenthal & Kenneth Swick, 1983. "Limit cycle oscillations of the human population," Demography, Springer;Population Association of America (PAA), vol. 20(3), pages 285-298, August.
    5. Carl Chiarella & Peter Flaschel, 1999. "Disequilibrium Growth Theory: Foundations, Synthesis, Perspectives," Working Paper Series 85, Finance Discipline Group, UTS Business School, University of Technology, Sydney.
    6. Hans-Peter Kohler & Francesco C. Billari & José Antonio Ortega, 2002. "The Emergence of Lowest-Low Fertility in Europe During the 1990s," Population and Development Review, The Population Council, Inc., vol. 28(4), pages 641-680.
    7. Blundell, Richard & Ham, John & Meghir, Costas, 1998. "Unemployment, discouraged workers and female labour supply," Research in Economics, Elsevier, vol. 52(2), pages 103-131, June.
    8. Feichtinger, Gustav & Dockner, Englebert J, 1990. "Capital Accumulation, Endogenous Population Growth, and Easterlin Cycles," Journal of Population Economics, Springer;European Society for Population Economics, vol. 3(2), pages 73-87, August.
    9. Harvie, David, 2000. "Testing Goodwin: Growth Cycles in Ten OECD Countries," Cambridge Journal of Economics, Oxford University Press, vol. 24(3), pages 349-376, May.
    10. Chu, C Y Cyrus & Lu, Huei-Chung, 1995. "Toward a General Analysis of Endogenous Easterlin Cycles," Journal of Population Economics, Springer;European Society for Population Economics, vol. 8(1), pages 35-57, February.
    Full references (including those not matched with items on IDEAS)


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Manfredi, Piero & Fanti, Luciano, 2006. "The complex effects of demographic heterogeneity on the interaction between the economy and population," Structural Change and Economic Dynamics, Elsevier, vol. 17(2), pages 148-173, June.
    2. Juan Gabriel Brida & Juan S. Pereyra & Wiston Adrián Risso, 2011. "Learning strategies in modelling economic growth," Economics Bulletin, AccessEcon, vol. 31(1), pages 546-559.
    3. Fanti, Luciano & Spataro, Luca, 2013. "On the relationship between fertility and public national debt," Economic Modelling, Elsevier, vol. 33(C), pages 843-849.
    4. Fanti, Luciano & Manfredi, Piero, 2009. "Neoclassical production theory and growth with unemployment: The stability issue revisited," Structural Change and Economic Dynamics, Elsevier, vol. 20(2), pages 126-135, June.
    5. Roa, María José & Saura, Dulce & Vázquez, Francisco J., 2011. "Economic growth, labor market and demographic patterns," Structural Change and Economic Dynamics, Elsevier, vol. 22(1), pages 81-91, February.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:metroe:v:57:y:2006:i:4:p:536-563. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.