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R&D-Based Growth in the Post-Modern Era

Holger Strulik (), Klaus Prettner () and Alexia Fürnkranz-Prskawetz

No 1009, VID Working Papers from Vienna Institute of Demography (VID) of the Austrian Academy of Sciences in Vienna

Abstract: Conventional R&D-based growth theory suggests that productivity growth is positively correlated with population size or population growth, an implication which is hard to see in the data. Here we integrate micro-founded fertility and schooling into an otherwise standard R&D-based growth model. We then show how a Beckerian child quality-quantity trade-off explains why higher growth of productivity and income per capita are associated with lower population growth. The medium-run prospects for future economic growth - when fertility is going to be below replacement level in virtually all fully developed countries - are thus much better than predicted by conventional R&D-based growth theory..

Keywords: Endogenous growth; R&D; declining population; fertility; schooling; human capital; postmodern society; post-transitional fertility. (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dge, nep-fdg, nep-ino and nep-mic
Date: 2010-10
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Related works:
Working Paper: R&D-based Growth in the Post-modern Era (2011) Downloads
Working Paper: R&D-based growth in the post-modern era (2011) Downloads
Working Paper: R\&D-based Growth in the Post-modern Era (2010) Downloads
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