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| Author: | Groezen, B. van Meijdam, L. Verbon, H.A.A. |
| Title: | Serving the old: ageing and economic growth |
| Journal: | Oxford Economic Papers
2005 : OCT, VOL. 57:4, p. 647-663 |
| Index terms: | ageing economic growth old people service |
| Language: | eng |
| Abstract: | The focus of this article is on the effect that population ageining has on the production structure of the economy and consequently on economic growth. An economy that consists of a service sector and a commodity sector is considered. Productivity growth only occurs in the latter sector and is assumed to depend positively on its size. It is shown that if old agents mainly demand labour-intensive services, the effect of increasing longevity on growth depends on the substituability of labour and capital in a closed economy. |
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