This paper revisits the debate about the appropriate differential equation that governs the evolution of knowledge in models of endogenous growth. We argue that the assessment of the appropriateness of an equation of motion should not only be based on its implications for the future, but that it...

Despite similar levels of per capita income, education, and technology the development of labour shares in OECD countries has displayed different patterns since 1960. The paper examines the role of demography in this regard. Employing an overlapping generations model we first examine the...

In recent decades, most industrialized countries experienced declining population growth rates caused by declining fertility and associated with rising life expectancy. We analyze the effect of continuing demographic change on medium- and long-run economic growth by setting forth an R&D-based...

In 1958 Jacob Mincer pioneered an important approach to understand how earnings are distributed across the population. In the years since Mincer's seminal work, he as well as his students and colleagues extended the original human capital model, reaching important conclusions about a whole array...

For analyzing the impact of climate change and of international climate policies on the international division of labor and on regional welfare the use of a disaggregated multi–sectoral, multi–regional dynamic computable general equilibrium model is appropriate. This paper discusses the...

This paper is a tentative summary and appraisal of the main theoretical arguments and empirical evidence for/against an industrial policy in support of high-tech industries. The paper reviews arguments based on endogenous growth theory and strategic trade theory and surveys the most relevant...

This paper aims to address the issue of public pension reforms under demographic ageing that is likely to occur in Europe over the next 50 years. Three possible scenarios are analysed in a Blanchard OLG framework. These include: i) a decrease both in public pensions and the lump sum labour...

2012 hat die Bundesregierung eine Demografiestrategie formuliert und einen entsprechenden Gipfel organisiert. Der Strategie fehlt allerdings eine Leitlinie, die angesichts der nach 2020 zu erwartenden demografischen Probleme sehr dringend benötigt würde. Vor allem müssen institutionelle...

In this paper, we analyze whether current demographic dynamics in Mozambique are likely to reduce per capita growth and poverty reduction. The findings suggest that population dynamics do not appear to be a major driver of changes in growth of per capita incomes, poverty, or inequality. At the...

The paper examines the effects of demographic change on federal, state and local governments in Germany with a focus on the expenditure side to answer the question, whether demographic change will induce vertical fiscal expenditure imbalances. We present estimates of the impact of demographic...