The aging society: Is growth reverting to pre-industrial levels in the 21st century?
研究了老龄化人口及其伴随的教育和创新扩张如何通过抵消收入负面影响，推动21世纪技术前沿扩展，基于21个OECD国家两个世纪的数据。
The aging population is expected by many to put an end to the high growth rates experienced in the past century. This paper shows that the aging population and the associated educational and innovative expansion induced by the demographic transition will expand the technology frontier in the 21 st century and significantly override the adverse income effects of the aging population. To achieve this, the total income-effects through the channels of innovations, investment, education, and labor force participation are estimated using data over two centuries for 21 OECD countries.