Arbeitspapier
R&D-based growth in the post-modern era
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 R&D-based growth into a unified growth setup with micro-founded fertility and schooling behavior. We then show how a Beckerian child quality-quantity trade-off explains why higher growth of productivity and income per capita are associated with lower population growth. The medium-run prospects for future economic growth - when fertility is going to be below replacement level in virtually all developed countries - are thus much better than predicted by conventional R&D-based growth theory.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECON WPS ; No. 04/2011
Klassifikation
Wirtschaft
Fertility; Family Planning; Child Care; Children; Youth
Human Capital; Skills; Occupational Choice; Labor Productivity
Economic Development: General
Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
Economic Growth and Aggregate Productivity: General
Fertility; Family Planning; Child Care; Children; Youth
Human Capital; Skills; Occupational Choice; Labor Productivity
Economic Development: General
Innovation; Research and Development; Technological Change; Intellectual Property Rights: General
Economic Growth and Aggregate Productivity: General
Thema
R&D
unified growth theory
declining population
fertility
schooling
human capital
post-modern society
unified growth theory
declining population
fertility
schooling
human capital
post-modern society
Ereignis
Geistige Schöpfung
(wer)
Strulik, Holger
Prettner, Klaus
Prskawetz, Alexia
Prettner, Klaus
Prskawetz, Alexia
Ereignis
Veröffentlichung
(wer)
Vienna University of Technology, Institute of Mathematical Methods in Economics, Research Group Economics
(wo)
Vienna
(wann)
2011
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:23 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Strulik, Holger
- Prettner, Klaus
- Prskawetz, Alexia
- Vienna University of Technology, Institute of Mathematical Methods in Economics, Research Group Economics
Entstanden
- 2011
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