MAY HUMAN CAPITAL RESCUE THE EMPTY PLANET?

Spyridon Boikos, Alberto Bucci () and Tiago Sequeira

No 2022-09, CeBER Working Papers from Centre for Business and Economics Research (CeBER), University of Coimbra

Abstract: Recent evidence suggests that fertility rates are (and will be expected to remain in the future) below the replacement level for several countries and especially for the most technological advanced ones, which indicates that the World population will start decreasing sooner or later. In the light of this, we reconsider the Empty Planet result – Jones (2022) – and include human capital and class size effects in R&D endogenous growth models with decreasing population. We find that the introduction of human capital mitigates, or even overcomes, the Empty Planet result. In particular, under some mild conditions, our setting allows obtaining simultaneous long-run economic growth and secular productivity stagnation.

Keywords: Endogenous economic growth; R&D; Human Capital; Declining Population; Empty Planet. (search for similar items in EconPapers)
JEL-codes: E13 E17 E61 O30 O40 (search for similar items in EconPapers)
Pages: 35 pages
Date: 2022-12
New Economics Papers: this item is included in nep-gro, nep-inv and nep-mac
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: May human capital rescue the Empty Planet? (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:gmf:papers:2022-09

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