May human capital rescue the Empty Planet?

Spyridon Boikos, Alberto Bucci () and Tiago Sequeira

Economics Letters, 2023, vol. 232, issue C

Abstract: Evidence suggests that fertility rates are already below the replacement level in many advanced countries, meaning that population is decreasing in these regions. We build an R&D-based growth model with human capital and declining population to show that the introduction of human capital can mitigate (or overcome) the stagnation in GDP per capita that may otherwise occur. Also, our model allows us simultaneously to observe sustained economic growth combined with secular productivity stagnation.

Keywords: Endogenous growth; Human capital; Declining population; Empty planet; Class size-effects (search for similar items in EconPapers)
JEL-codes: E13 E17 E61 O30 O40 (search for similar items in EconPapers)
Date: 2023
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Working Paper: MAY HUMAN CAPITAL RESCUE THE EMPTY PLANET? (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:232:y:2023:i:c:s0165176523003774

DOI: 10.1016/j.econlet.2023.111352

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