Demographic dynamics and long-run development: insights for the secular stagnation debate
نویسندگان
چکیده
منابع مشابه
Demographic Dynamics and Long‐Run Development: Insights for the Secular Stagnation Debate*
This paper takes a global, long‐run perspective on the recent debate about secular stagnation, which has so far mainly focused on the short term. The analysis is motivated by observing the interplay between the economic and demographic transition that has occurred in the developed world over the past 150 years. To the extent that high growth rates in the past have partly been the consequence of...
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Theory tells us that output, the capital stock and the user cost of capital are cointegrated. From the capital accumulation identity, it also follows that the capital stock and investment have a long-run proportional relationship. This has been used to justify the estimation of investment equations embodying a long-run relation between investment and output, rather than between the capital stoc...
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ژورنال
عنوان ژورنال: Journal of Population Economics
سال: 2016
ISSN: 0933-1433,1432-1475
DOI: 10.1007/s00148-016-0626-8