Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/130470
Authors: 
Irmen, Andreas
Litina, Anastasia
Year of Publication: 
2016
Series/Report no.: 
CESifo Working Paper 5841
Abstract: 
This research empirically establishes and theoretically motivates the hypothesis that population aging has a hump-shaped effect on inventive activity. We estimate this hump-shaped relationship in a panel of 33 OECD countries over the period 1960-2012. The increasing part of the hump captures the awareness that population aging requires inventive activity to guarantee current and future standards of living. The decreasing part reflects the tendency of aging societies to lose dynamism and the willingness to take risks. Policy-wise our analysis suggests that raising the awareness of individuals about the consequences of population aging may facilitate the adoption of strategies and policies encouraging inventive activity and economic growth.
Subjects: 
population aging
inventive activity
panel estimation
JEL: 
J11
O31
O50
O57
Document Type: 
Working Paper

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