The effects of education and aging in an OLG model: long-run growth in France, Germany and Italy

Catalano, Michele; Pezzolla, Emilia

doi:10.1007/s10663-016-9351-5

Cited by 7 publications

(5 citation statements)

References 29 publications

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“…The baseline OLG model used in this study was developed by Samuelson (1958) and Diamond (1965) and recently used to evaluate the effects of population ageing e.g. by Catalano and Pezzolla (2016) or Kim et al (2016). The main sources of inspiration for the model were then the seminal work of Auerbach and Kotlikoff (1987), as well as newer publications of Heer and Mauner (2009), Ihori (1996), Lisenkova et al (2013), Zodrow et al (2013) and others.…”

Section: Existing Researchmentioning

confidence: 99%

Sectoral Impacts of International Labour Migration and Population Ageing in the Czech Republic

Štěpánek

2021

Comput Econ

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This study assesses macroeconomic and sectoral impacts of demographic changes in the Czech Republic, as a result of population ageing and international migration. To do so, it develops a unique dynamic Overlapping Generations Computable General Equilibrium (OLG-CGE) model with detailed representation of individuals of different ages, educational attainment and occupations, as well as interrelations among industrial sectors in producing intermediate and final outputs. The numeric simulations show that the Czech economy will face a substantial reduction in its effective labour supply and changes in sectoral demand patterns, leading to an increase in unit labour costs and consequent shift towards more capitalbased production, price increase for the consumers, and a long-term decrease in demand particularly for agricultural products. While international migration may alleviate the pressure, the annual net immigration would need to increase by at least 8 thousand individuals on average in the 2020-2035 period and by 17 thousand individuals in the 2036-2050 period to offset the negative effects in the long term.

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Section: Existing Researchmentioning

confidence: 99%

Sectoral Impacts of International Labour Migration and Population Ageing in the Czech Republic

Štěpánek

2021

Comput Econ

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“…The potential of a country and its ability to sustain growth, in the long run, is limited by the size of its workforce population, and with the demographic window of opportunity, the quality of China's economic development will undoubtedly be affected to some extent [4]. Thus, this study attempts to examine the correlation between demographic variables (e.g., delayed retirement, total fertility rate, and life expectancy) and economic development in the context of aging, as well as investigate new sources of economic growth in China.…”

Section: Introductionmentioning

confidence: 99%

A Study on the Impact of Population Age Structure Change on Economic Growth in China

Liu

Fang

2022

Sustainability

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In the process of changes in total population, structure, and spatial distribution, it is essential to investigate the inner rules of the harmonious correlation between population and development. Thus, this study examines the correlation between demographic variables (e.g., delayed retirement, total fertility rate, and life expectancy) and economic development in China based on the overlapping generations (OLG) model and numerical simulation method. The findings reveal the following: (1) total social output level positively correlates with survival probability; (2) the contribution of the aging labor force (retirement age delay) to the total output is significant and an essential source of sustainable economic growth; (3) aggregate output increases first and then decreases with the increase in individual pension contributions rate, and the correlation between the two is a ∩-shaped curve. The policy implications of this study are that China’s economic transformation is a general trend, which should promote the upgrading of the demographic dividend from quantitative type to qualitative type and tap the human capital potential to increase the capital-based demographic dividend and activate the gender dividend.

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“…Research that analyzes simultaneously the macroeconomic effects of these two processes within a life cycle framework is very scarce. The exceptions are Díaz-Giménez and Díaz-Saavedra ( 2009) and Catalano and Pezzolla (2016), but none of them discuss changes in inequality.…”

Section: Introductionmentioning

confidence: 99%

Macroeconomic Consequences of the Demographic and Educational Changes in Poland After 1990

Kolasa

2020

Macroecon. Dynam.

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Soon after the start of transition to a market economy in the early 1990s, Poland has experienced both a dramatic decline in the fertility rate and an increase in the share of students among young high-school graduates. These two processes significantly changed the age structure of population and average income characteristics of households. Using a general equilibrium model with heterogeneous households and uninsured income shocks, I try to assess the impact of these changes on the Polish economy as a whole and inequalities within it. I find that, in the long term, the positive effects of the educational change on output per capita will more than offset the negative impact of lower fertility. I also show that the educational change increases income and consumption inequalities, while the fertility change decreases inequality in assets.

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The effects of education and aging in an OLG model: long-run growth in France, Germany and Italy

Cited by 7 publications

References 29 publications

Sectoral Impacts of International Labour Migration and Population Ageing in the Czech Republic

Sectoral Impacts of International Labour Migration and Population Ageing in the Czech Republic

A Study on the Impact of Population Age Structure Change on Economic Growth in China

Macroeconomic Consequences of the Demographic and Educational Changes in Poland After 1990

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