Conventional R&D-based growth theory suggests that productivity growth is positively correlated with population size or population growth, an implication which is hard to see in the data. Here we integrate micro-founded fertility and schooling into an otherwise standard R&D-based growth model....

Persistent low fertility rates lead to lower population growth rates and eventually also to decreasing population sizes in most industrialized countries. There are fears that this demographic development is associated with declines in per capita GDP and possibly also increasing inequality of the...

This article introduces a social planner version of a model central to the New Economic Geography for explicitly answering whether the symmetric equilibrium outcome of the decentralized market economy is socially desirable. We find that savings incentives are too weak, resulting in an...

The purpose of this article is to identify the role of population size, population growth and population ageing in models of endogenous economic growth. While in exogenous growth models demographic variables are linked to economic prosperity mainly via the population size, the structure of the...

Fertility rates have been falling persistently over the past 50 years in most developed countries around the world. Simultaneously, the trend in outward migration from poorer to richer countries has been steady. These two forces have contributed to declining population growth and in some...

This article investigates the consequences of population ageing for long-run economic growth perspectives. We introduce population ageing into a generalized model of endogenous technological change incorporating the model of Romer (1990) and Jones (1995) as special cases. We find that increases...

Micro-level relationships between union formation or dissolution and childbearing have implications for fertility that have not been thoroughly examined. In this paper, we suggest that these relationships comprise an 'engine' that produces variation and change around replacement level fertility....

We show that in a large class of distributed optimal control models (DOCM), where population is described by a McKendrick type equation with an endogenous number of newborns, the reproductive value of Fisher shows up as part of the shadow price of the population. Depending on the objective...

In general, the spreading of egalitarian family values has often been associated with a decline in fertility. However, recently a rebound in fertility has been observed in several industrialized countries. A possible explanation of this trend may be the spread of egalitarian values that induced...

During recent years there has been an increasing awareness of the explanatory power of demographic variables in economic growth regressions. We estimate a new model of the effects of age structure change on economic growth. We use the new model and recent probabilistic demographic projections...