Decreasing Fertility, Economic Growth and the Intergenerational Wage Gap
Klaus Prettner () and
No 906, VID Working Papers from Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna
Persistent low fertility rates lead to lower population growth rates and eventually also to decreasing population sizes in most industrialized countries. There are fears that this demographic development is associated with declines in per capita GDP and possibly also increasing inequality of the wage distribution. We investigate whether this is true in the context of neoclassical growth models, augmented with endogenous fertility decisions and endogenous educational decisions. Furthermore we allow for imperfect substitutability across workers of different age in the production process and learning by doing effects as well as human capital depreciation. In particular, we assess the intergenerational wage redistribution effects which follow after a demographic change to persistent low fertility rates.
Keywords: Population decline; economic growth; intergenerational wage gap. (search for similar items in EconPapers)
Pages: 24 pages
New Economics Papers: this item is included in nep-age, nep-bec, nep-dge, nep-fdg and nep-lab
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Journal Article: Decreasing fertility, economic growth and the intergenerational wage gap (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:vid:wpaper:0906
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