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The Impact of Population Ageing on Technological Progress and TFP Growth, with Application to United States: 1950-2050

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  • Izmirlioglu, Yusuf

Abstract

I examine the effect 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.

Suggested Citation

  • Izmirlioglu, Yusuf, 2008. "The Impact of Population Ageing on Technological Progress and TFP Growth, with Application to United States: 1950-2050," MPRA Paper 24687, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:24687
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    References listed on IDEAS

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    Cited by:

    1. Majiwa, Eucabeth Bosibori Opande & Lee, Boon & Wilson, Clevo, 2015. "Multi-lateral multi-output measurement of productivity: the case of African agriculture," 2015 Conference, August 9-14, 2015, Milan, Italy 212769, International Association of Agricultural Economists.

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    More about this item

    Keywords

    Population Ageing; Demographic Transition; TFP Growth; Technological Progress; Economic Growth Forecast; United States;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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