Does Age Structure Forecast Economic Growth? / David E. Bloom, David Canning, Günther Fink, Jocelyn E. Finlay.
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Item type | Home library | Collection | Call number | Status | Date due | Barcode | Item holds | |
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Working Paper | Biblioteca Digital | Colección NBER | nber w13221 (Browse shelf(Opens below)) | Not For Loan |
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July 2007.
Increases in the proportion of the working age population can yield a "demographic dividend" that enhances the rate of economic growth. We estimate the parameters of an economic growth model with a cross section of countries over the period 1960 to 1980 and investigate whether the inclusion of age structure improves the model's forecasts for the period 1980 to 2000. We find that including age structure improves the forecast, although there is evidence of parameter instability between periods with an unexplained growth slowdown in the second period. We use the model to generate growth forecasts for the period 2000 to 2020.
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