Shock persistence in output and the role of stochastic population growth
Tapas Mishra (),
Mamata Parhi and
Claude Diebolt ()
Economics Bulletin, 2010, vol. 30, issue 3, 2437-2449
This paper illustrates both analytically and empirically that stochastic long-memory in economic growth arises due to the presence of a long-memory in population growth. Specifically, we show that the long-run conditional mean and variances of economic growth are functions of stochastic long-memory in demographic system. This is well-supported by an empirical example.
Keywords: economy-demographic interaction; long-memory; economic growth; stochastic population; stochastic economic growth. (search for similar items in EconPapers)
JEL-codes: B4 A1 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-09-00504
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