Demographic Dynamics and the Empirics of Economic Growth

December 1, 1994

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Michael Sarel. Demographic Dynamics and the Empirics of Economic Growth, (USA: International Monetary Fund, 1994) accessed September 19, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper examines the effects of demographic dynamics on the measured rates of economic growth. First, it develops a model of production with labor productivity that varies with age. Second, it uses macroeconomic and demographic data to estimate the relative productivity of different age groups. Third, it constructs a panel database of effective labor supply in order to reflect the changing age-structure of the population. Fourth, it decomposes the historical measured growth rates into effects of demographic dynamics and into “real” growth rates, net of demographic effects.

Subject: Aging, Expenditure, Labor, Labor supply, Population and demographics, Production, Productivity, Public expenditure review

Keywords: Aging, Database result, Economic growth, Labor supply, Net productivity, Panel database, Productivity, Productivity coefficient, Public expenditure review, United Nations data, WP

Publication Details

Pages:

22
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1994/143
Stock No:

WPIEA1431994
ISBN:

9781451926880
ISSN:

1018-5941

Notes

Also published in Staff Papers, Vol. 42, No. 2, June 1995.

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