Demographic Change and Directed Technological Change
In this paper, we analyze the implications of demographic change, i.e., the aging of society, on the direction of technological change and the rate of economic growth. Taking demographic change as an exogenous event, the simple variant of Acemoglu's theory of directed technical change implies that (1) the elderly-care related technology must be a promising area of innovation and (2) the optimal growth rate must be lower in aging societies than in young ones, suggesting that the slowdown of economic growth may be an optimal response of the economy to population aging. The analytical framework is simple and robust such that this model can be used to assess various policy options concerning the demographic change in Japan and other countries.
|Date of creation:||Sep 2012|
|Contact details of provider:|| Postal: 11th floor, Annex, Ministry of Economy, Trade and Industry (METI) 1-3-1, Kasumigaseki Chiyoda-ku, Tokyo, 100-8901|
Web page: http://www.rieti.go.jp/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Daron Acemoglu, 1998.
"Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 113(4), pages 1055-1089.
- Acemoglu, D., 1997. "Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality," Working papers 97-14, Massachusetts Institute of Technology (MIT), Department of Economics.
- Acemoglu, Daron, 1997. "Why Do New Technologies Complement Skills? Directed Technical Change and Wage Inequality," CEPR Discussion Papers 1707, C.E.P.R. Discussion Papers.
- Daron Acemoglu, 2002. "Directed Technical Change," Review of Economic Studies, Oxford University Press, vol. 69(4), pages 781-809.
When requesting a correction, please mention this item's handle: RePEc:eti:dpaper:12053. 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: (NUKATANI Sorahiko)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 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.