Longevity and Technological Change

Abstract

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may AbstractWe analyze the impact of increasing longevity on technological progress within an R&D-based endogenous growth framework and test the model's implications on OECD data from 1960 to 2011. The central hypothesis derived in the theoretical part is that -by raising the incentives of households to invest in physical capital and in R&D -decreasing mortality positively impacts upon technological progress and thereby also on productivity growth. The empirical results clearly confirm the theoretical prediction which implies that the ongoing demographic changes in industrialized economies are not necessarily detrimental to economic prosperity, at least as far as technological progress and productivity growth are concerned.

Death and Capital

“…4. See Blackburn and Cipriani (1998), Kalemli-Ozcan et al (2000), Bhattacharya and Qiao (2007), Zhang and Zhang (2009), Boucekkine and Laffargue (2010), Chakraborty et al (2016), Yasui (2016), and Gehringer and Prettner (2019 for various theoretical mechanisms.…”

Population Aging and Inventive Activity

“…7 For instance, Kogel (2005) argues that a higher youth dependency ratio reduces 'residual', i. e., total factor productivity growth. Gehringer and Prettner (2014) …nd empirical evidence for a positive correlation between longevity and total factor productivity growth in a panel of 22 OECD countries and a time span from 1960 to 2011. The focus of Feyrer (2007) is on the relationship between workforce demographics and aggregate productivity.…”