The Impact of Population Ageing on Technological Progress and TFP Growth, with Application to United States: 1950-2050 (Working Paper)
نویسنده
چکیده
I examine the e¤ect of age-distribution of the society on economic growth through technological progress. I build a multisector economy model that involves population pyramid. I characterize the steady-state of the model for low and high population growth rate. Higher population growth rate yields faster TFP and output growth in the long-run. I analyze dynamic behavior of the economy. I calibrate the model for United States, 1950-2000 and using the estimated parameters I make predictions about the impact of population ageing on economic growth. JEL Numbers: J11, O11, O32, O33, O41
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