The End of Economic Growth? Unintended Consequences of a Declining Population

In many models, economic growth is driven by people discovering new ideas. These models typically assume either a constant or growing population. However, in high income countries today, fertility already below its replacement rate: women are having fewer than two children on average. It distinct possibility that global population will decline rather stabilize the long run. standard this has profound implications: continued exponential growth, living standards stagnate for vanishes. Moreover, even optimal allocation can get trapped outcome if there delays implementing policy. (JEL I12, J11, J13, O41)