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Labour Shares, Fertility and Longevity in an OLG model

Igor Fedotenkov

No 28, Bank of Lithuania Working Paper Series from Bank of Lithuania

Abstract: This paper studies the link between demographic factors and labour shares as well as tries to answer the question whether population ageing is responsible for the global decline in labour shares. We found that the link depends on the elasticity of substitution between labour and capital as production factors. Given the empirical estimates of this parameter, we conclude that population ageing is not responsible for the global decline in labour shares. On the contrary, it reduces the speed of this decline.

Keywords: labour shares; population ageing; CES production function (search for similar items in EconPapers)
JEL-codes: E25 C51 J14 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2016-07-01
New Economics Papers: this item is included in nep-age, nep-ger and nep-mac
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