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Article: Demographic structure and capital accumulation: A quantitative assessment

TitleDemographic structure and capital accumulation: A quantitative assessment
Authors
KeywordsAge-specific mortality rates
Capital accumulation
Overlapping generations
Population growth
Issue Date2009
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jedc
Citation
Journal Of Economic Dynamics And Control, 2009, v. 33 n. 3, p. 554-567 How to Cite?
AbstractIn a recent paper, d'Albis [2007. Demographic structure and capital accumulation. Journal of Economic Theory 132, 411-434] shows that the effect of population growth on capital accumulation is ambiguous in overlapping-generations models with age-specific mortality rates, contrasting to the predicted negative effect in Diamond [1965. National debt in a neoclassical growth model. American Economic Review 55, 1126-1150] and Blanchard [1985. Debt, deficits, and finite horizons. Journal of Political Economy 93, 223-247]. The quantitative exercises of this paper indicate that while in principle a positive relation between population growth and capital accumulation is possible, this relation is practically always negative for industrial countries. Intuition based on capital dilution and aggregate saving effects is provided. This paper also complements d'Albis [2007. Demographic structure and capital accumulation. Journal of Economic Theory 132, 411-434] in characterizing the steady-state equilibrium in more familiar economic concepts. © 2008 Elsevier B.V. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/60166
ISSN
2015 Impact Factor: 0.879
2015 SCImago Journal Rankings: 0.937
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLau, SHPen_HK
dc.date.accessioned2010-05-31T04:05:06Z-
dc.date.available2010-05-31T04:05:06Z-
dc.date.issued2009en_HK
dc.identifier.citationJournal Of Economic Dynamics And Control, 2009, v. 33 n. 3, p. 554-567en_HK
dc.identifier.issn0165-1889en_HK
dc.identifier.urihttp://hdl.handle.net/10722/60166-
dc.description.abstractIn a recent paper, d'Albis [2007. Demographic structure and capital accumulation. Journal of Economic Theory 132, 411-434] shows that the effect of population growth on capital accumulation is ambiguous in overlapping-generations models with age-specific mortality rates, contrasting to the predicted negative effect in Diamond [1965. National debt in a neoclassical growth model. American Economic Review 55, 1126-1150] and Blanchard [1985. Debt, deficits, and finite horizons. Journal of Political Economy 93, 223-247]. The quantitative exercises of this paper indicate that while in principle a positive relation between population growth and capital accumulation is possible, this relation is practically always negative for industrial countries. Intuition based on capital dilution and aggregate saving effects is provided. This paper also complements d'Albis [2007. Demographic structure and capital accumulation. Journal of Economic Theory 132, 411-434] in characterizing the steady-state equilibrium in more familiar economic concepts. © 2008 Elsevier B.V. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/jedcen_HK
dc.relation.ispartofJournal of Economic Dynamics and Controlen_HK
dc.rightsJournal of Economic Dynamics and Control. Copyright © Elsevier BV.en_HK
dc.subjectAge-specific mortality ratesen_HK
dc.subjectCapital accumulationen_HK
dc.subjectOverlapping generationsen_HK
dc.subjectPopulation growthen_HK
dc.titleDemographic structure and capital accumulation: A quantitative assessmenten_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0165-1889&volume=33 &issue=No. 3&spage=554&epage=567&date=2009&atitle=Demographic+structure+and+capital+accumulation:+A+quantitative+assessmenten_HK
dc.identifier.emailLau, SHP: laushp@hkucc.hku.hken_HK
dc.identifier.authorityLau, SHP=rp01073en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.jedc.2008.08.004en_HK
dc.identifier.scopuseid_2-s2.0-59349097198en_HK
dc.identifier.hkuros163036en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-59349097198&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume33en_HK
dc.identifier.issue3en_HK
dc.identifier.spage554en_HK
dc.identifier.epage567en_HK
dc.identifier.isiWOS:000264080800003-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridLau, SHP=7401596159en_HK

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