A Note on Long-Memory in Population and Economic Growth
Tapas Mishra (),
Alexia Prskawetz,
Mamata Parhi and
Claude DIEBOLT ()
Additional contact information Alexia Prskawetz: Vienna University of Technology, 1040 Vienna, Austria
Abstract:
We show that long memory in economic growth occurs due to the existence of stochastic memory in population growth. Conventional stationary assumption of population growth in economic growth models is relaxed and convergence properties of slowly decaying demographic shocks are examined in light of population and economic policies.