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The Population Age Distribution, Human Capital, and Economic Growth: The U.S. states 1930-2000

Author

Listed:
  • Persson, Joakim

    (Department of Business, Economics, Statistics and Informatics)

Abstract

This paper introduces age-based population heterogeneity in the Mankiw, Romer, and Weil (1992)model to improve measurement of aggregate labor and aggregate human capital. The estimation results are consistent with this model, and they indicate a hump-shaped and quantitatively important partial relation between the initial population age distribution and the subsequent rate of economic growth for the U.S. states for the period 1930-2000. This paper also finds that the estimated growth effects of the initial level of income per capita, of educational attainment, and of variables measuring the population growth rate are substantially biased if the age distribution is not accounted for.

Suggested Citation

  • Persson, Joakim, 2004. "The Population Age Distribution, Human Capital, and Economic Growth: The U.S. states 1930-2000 ," Working Papers 2004:7, Örebro University, School of Business.
    • Handle: RePEc:hhs:oruesi:2004_007
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    Citations

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    Cited by:

    1. Cylus, Jonathan & Al Tayara, Lynn, 2021. "Health, an ageing labour force, and the economy: does health moderate the relationship between population age-structure and economic growth?," LSE Research Online Documents on Economics 112421, London School of Economics and Political Science, LSE Library.
    2. Williams, Gemma A. & Cylus, Jonathan & Al Tayara, Lynn & Roubal, Tomáš & Tsilaajav, Tsolmongerel & Barber, Sarah L., 2022. "Can healthy ageing moderate the effects of population ageing on economic growth and health spending trends in Mongolia? A modelling study," LSE Research Online Documents on Economics 117580, London School of Economics and Political Science, LSE Library.
    3. Cylus, Jonathan & Al Tayara, Lynn, 2021. "Health, an ageing labour force, and the economy: Does health moderate the relationship between population age-structure and economic growth?," Social Science & Medicine, Elsevier, vol. 287(C).

    More about this item

    Keywords

    Population age structure; Regional Economic growth; Human capital; Population Growth; Migration;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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