Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/67605
Authors: 
Strulik, Holger
Prettner, Klaus
Prskawetz, Alexia
Year of Publication: 
2011
Series/Report no.: 
ECON WPS - Vienna University of Technology Working Papers in Economic Theory and Policy 04/2011
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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