Demographic Dynamics and the Empirics of Economic Growth
Summary:
This paper examines the effects of demographic dynamics on the measured rates of economic growth. First, it develops a model of production with labor productivity that varies with age. Second, it uses macroeconomic and demographic data to estimate the relative productivity of different age groups. Third, it constructs a panel database of effective labor supply in order to reflect the changing age-structure of the population. Fourth, it decomposes the historical measured growth rates into effects of demographic dynamics and into “real” growth rates, net of demographic effects.
Series:
Working Paper No. 1994/143
Subject:
Aging Expenditure Labor Labor supply Population and demographics Production Productivity Public expenditure review
Notes:
Also published in Staff Papers, Vol. 42, No. 2, June 1995.
English
Publication Date:
December 1, 1994
ISBN/ISSN:
9781451926880/1018-5941
Stock No:
WPIEA1431994
Pages:
22
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