Mankiw-Romer-Weil Model with Declining Population: A Note

Hiroaki Sasaki, Taichi Hori, Rokuhisa Hasegawa, Shigehiro Tajiri and Kaito Nakamura

MPRA Paper from University Library of Munich, Germany

Abstract: This study examines how the long-run growth rate of per capita income is determined when population growth is negative. It uses the augmented Solow growth model as a tool for this investigation. The results reveal four distinct types of dynamics, depending on the parameter combinations. In all these dynamics, the long-run growth rate of per capita income remains positive. This finding implies that sustainable growth in per capita income is achievable, even in the context of negative population growth.

Keywords: augmented Solow model; human capital accumulation; declining population (search for similar items in EconPapers)
JEL-codes: J11 O15 O41 (search for similar items in EconPapers)
Date: 2023-12-13
New Economics Papers: this item is included in nep-gro
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:119457

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