Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/67605 
Year of Publication: 
2011
Series/Report no.: 
ECON WPS No. 04/2011
Publisher: 
Vienna University of Technology, Institute of Mathematical Methods in Economics, Research Group Economics, 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 R&D-based growth into a unified growth setup with micro-founded fertility and schooling behavior. 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 developed countries - are thus much better than predicted by conventional R&D-based growth theory.
Subjects: 
R&D
unified growth theory
declining population
fertility
schooling
human capital
post-modern society
JEL: 
J13
J24
O10
O30
O40
Document Type: 
Working Paper

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