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Demographic Dynamics and the Empirics of Economic Growth
Author:
Mr. Michael Sarel
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Series:
IMF Working Papers
Volume/Issue:
Volume 1994: Issue 143
Language:
English
Publication Date:
01 Dec 1994
DOI:
https://doi.org/10.5089/9781451926880.001
ISBN:
9781451926880
ISSN:
1018-5941
Pages:
22
Keywords:
WP; economic growth; productivity coefficient; net productivity; panel database; database result; United Nations data; Labor supply; Productivity; Aging; Public expenditure review
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund