{
  "title": "Demographic Dynamics and the Empirics of Economic Growth",
  "publication": "IMF Working Papers, December 1, 1994",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/30/demographic-dynamics-and-the-empirics-of-economic-growth-1057",
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  "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.",
  "sections": [
    {
      "heading": "Research objectives and approach",
      "content": "- Examine the effects of demographic dynamics on the measured rates of economic growth.\n- Four-step approach:\n  - Develop a model of production with labor productivity that varies with age.\n  - Use macroeconomic and demographic data to estimate the relative productivity of different age groups.\n  - Construct a panel database of effective labor supply to reflect the changing age-structure of the population.\n  - Decompose historical measured growth rates into effects of demographic dynamics and into “real” growth rates, net of demographic effects."
    },
    {
      "heading": "Model of production",
      "content": "- Labor productivity is modeled as age-dependent; the production model explicitly allows productivity to vary across age groups."
    },
    {
      "heading": "Empirical estimation",
      "content": "- Macroeconomic and demographic data are used to estimate the relative productivity (net productivity, productivity coefficient) of different age groups.\n- Keywords associated with the empirical work include: Aging, database result, economic growth, Labor supply, net productivity, panel database, Productivity, productivity coefficient, United Nations data, WP."
    },
    {
      "heading": "Panel database of effective labor supply",
      "content": "- A panel database of effective labor supply is constructed to reflect changing age-structure of population across countries and over time."
    },
    {
      "heading": "Growth decomposition",
      "content": "- Historical measured growth rates are decomposed into:\n  - Effects attributable to demographic dynamics.\n  - “Real” growth rates net of demographic effects."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Aging, Expenditure, Labor, Labor supply, Population and demographics, Production, Productivity, Public expenditure review.\n- Keywords: Aging, database result, economic growth, Labor supply, net productivity, panel database, Productivity, productivity coefficient, Public expenditure review, United Nations data, WP.\n\n---\n\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/30/demographic-dynamics-and-the-empirics-of-economic-growth-1057"
    }
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    "Authors: Michael Sarel",
    "Published: December 1, 1994",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451926880.001",
    "Examine the effects of demographic dynamics on the measured rates of economic growth.",
    "Four-step approach:",
    "Labor productivity is modeled as age-dependent; the production model explicitly allows productivity to vary across age groups.",
    "Macroeconomic and demographic data are used to estimate the relative productivity (net productivity, productivity coefficient) of different age groups.",
    "Keywords associated with the empirical work include: Aging, database result, economic growth, Labor supply, net productivity, panel database, Productivity, productivity coefficient, United Nations data, WP.",
    "A panel database of effective labor supply is constructed to reflect changing age-structure of population across countries and over time.",
    "Historical measured growth rates are decomposed into:",
    "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."
  ],
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