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Shock persistence in output and the role of stochastic population growth

Author

Listed:
  • Tapas Mishra

    (Department of Economics, Swansea University, Swansea, UK)

  • Alexia Prskawetz

    (Vienna University of Technology & Vienna Institute of Demography, Austria)

  • Mamata Parhi

    (Department of Economics, Swansea University, Swansea, UK)

  • Claude Diebolt

    (BETA, University of Strasbourg, Strasbourg, France)

Abstract

This paper illustrates both analytically and empirically that stochastic long-memory in economic growth arises due to the presence of a long-memory in population growth. Specifically, we show that the long-run conditional mean and variances of economic growth are functions of stochastic long-memory in demographic system. This is well-supported by an empirical example.

Suggested Citation

  • Tapas Mishra & Alexia Prskawetz & Mamata Parhi & Claude Diebolt, 2010. "Shock persistence in output and the role of stochastic population growth," Economics Bulletin, AccessEcon, vol. 30(3), pages 2437-2449.
    • Handle: RePEc:ebl:ecbull:eb-09-00504
    as

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    File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I3-P223.pdf
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    References listed on IDEAS

    as
    1. L. A. Gil-Alana, 2003. "A fractional integration analysis of the population in some OECD countries," Journal of Applied Statistics, Taylor & Francis Journals, vol. 30(10), pages 1147-1159.
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    Cited by:

    1. Théophile T. Azomahou & Tapas Mishra & Mamata Parhi, 2015. "Economic Growth under Stochastic Population and Pollution Shocks," Manchester School, University of Manchester, vol. 83(3), pages 314-345, June.

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    More about this item

    Keywords

    economy-demographic interaction; long-memory; economic growth; stochastic population; stochastic economic growth.;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • A1 - General Economics and Teaching - - General Economics

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