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Population aging, education and skill premium in international trade

Author

Listed:
  • CHEN, Xiao
  • WOODLAND, Alan

Abstract

This paper is primarily concerned with the impacts of population aging upon education and skill premium. To study population aging, we utilize an overlapping-generation model where survival into the old stage is uncertain and population aging is modelled via a higher survival rate. Featuring the household, education and production sectors, our model is analysed under both autarky and two-country trade environments. Under autarky, we find that population aging encourages educational efforts and decreases skill premium. In contrast, under the two-country trade environment, population aging in one country encourages domestic education while discourages education of the other country. Moreover, in our classical trade framework without skill biased technical change, we find that population aging increases skill premium in all countries. Our study provides a new explanation for the observed skill premium rises over recent decades.

Suggested Citation

  • CHEN, Xiao & WOODLAND, Alan, 2015. "Population aging, education and skill premium in international trade," Discussion paper series 2015-03, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    • Handle: RePEc:hit:hiasdp:2015-03
    Note: 論文データ（PDF）を取り下げ。[2016/9/16], Withdrawn PDF data on Sep. 16, 2016
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    More about this item

    Keywords

    Population Aging; Education; Technological Progress; Skill Premium;
    All these keywords.

    JEL classification:

    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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