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on Economic Growth |
| By: | Minoru Watanabe (Hokusei Gakuen University) |
| Abstract: | This brief study constructs a simple Overlapping Generations Model incorporating endogenous fertility and automation capital, which can be used as a replacement for labor inputs Further more, this study introduces a robot tax on automation capital.In the long run, robot tax promote s not only fertility but also per capita income. |
| Keywords: | Automation capital, Robot tax, Endogenous fertility, Income growth |
| JEL: | E10 H50 J11 |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:koe:wpaper:2307&r=gro |
| By: | Michael Dotsey; Wenli Li; Fang Yang |
| Abstract: | We build a unified framework to quantitatively examine the demographic transition and industrial policies in contributing to China’s economic growth between 1976 and 2015. We find that the demographic transition and industrial policy changes by themselves account for a large fraction of the rise in household and corporate savings relative to total output and the rise in the country’s per capita output growth. Importantly, their interactions also lead to a sizable fraction of the increases in savings since the late 1980s and reduce growth after 2010. A novel and important factor that drives these dynamics is endogenous human capital accumulation, which depresses household savings between 1985 and 2010 but leads to substantial gains in per capita output growth after 2005. |
| Keywords: | Aging; Credit policy; Household saving; Output growth; China |
| JEL: | E21 J11 J13 L52 |
| Date: | 2022–06–27 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedpwp:94396&r=gro |
| By: | Werner Pena; Christian Siegel |
| Abstract: | We investigate links between routine-biased technical change, the structure of occupational employment, and cross-country income differences. To implement this, we combine several data sources including national labour force surveys and Penn World Tables. We first document that in our novel dataset spanning 92 countries there is a negative relationship between the employment share of routine occupations and GDP per hour worked. We then conduct a development accounting exercise where we differentiate labour inputs by occupation and allow for occupationspecific technologies. We find a systematic relationship between occupation-specific technologies and GDP per hour worked. More developed economies use technologies that are more routine-biased. The productivity of routine labour is about 11 times higher in the top 25 percent than in the bottom 25 percent of countries ranked by GDP per hour worked. International differences in this routine labour technology by themselves account for about 13 percent of the 90-10 ratio of GDP per hour worked, whereas differences in abstract labour technology do not contribute to the observed GDP dispersion. Eliminating all occupations’ and capital’s technology differences across the world would compress the GDP distribution by 35 to 41 percent. |
| Keywords: | biased technical change; employment structure; income differences; development accounting |
| JEL: | O10 O33 O41 J21 J24 |
| Date: | 2023–05 |
| URL: | http://d.repec.org/n?u=RePEc:ukc:ukcedp:2301&r=gro |
| By: | Chu, Angus C. |
| Abstract: | This study develops a Malthusian growth model with heterogeneous agents and natural selection to explore the evolution of human brain size. We find that if the cognitive advantage of a larger brain dominates its higher metabolic costs, then the average brain size increases over time, which is consistent with the rising trend in human brain size that started over 2 million years ago. Furthermore, an improvement in hunting-gathering productivity gives rise to a larger optimal brain size in human evolution. Finally, as the average brain size increases, the average level of hunting-gathering productivity also rises, generating a positive feedback loop. |
| Keywords: | Natural selection; brain size evolution; Malthusian growth theory |
| JEL: | N1 O13 Q56 |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:117130&r=gro |
| By: | Stefano Bosi (EPEE - Centre d'Etudes des Politiques Economiques - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay, Université Paris-Saclay, UEVE - Université d'Évry-Val-d'Essonne); Carmen Camacho (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); David Desmarchelier (BETA - Bureau d'Économie Théorique et Appliquée - AgroParisTech - UNISTRA - Université de Strasbourg - Université de Haute-Alsace (UHA) - Université de Haute-Alsace (UHA) Mulhouse - Colmar - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | We introduce the Human Development Index (HDI) in a growth model to show that if households cared about human capital, even if infinitesimally, then human capital would increase forever protecting economies indirectly. Here, human capital will have an additional positive effect on social welfare through the quality of individual health and education. In a simple economy with a Cobb–Douglas technology and logarithmic preferences, we provide the explicit trajectories for human capital, consumption, and the HDI, which correspond to the balanced growth path (BGP). Using a two-step maximization strategy, we compute the optimal initial value of the control variable, in this case, the initial optimal labour supply. In other words, we prove the optimality of the BGP. We highlight a HDI crossing property: the propensity to consume has a positive effect on the HDI in the short run, but negative in the long run. |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03920429&r=gro |