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Serving the Old: Ageing and Economic Growth

Oxford Economic Papers, Vol. 57, Issue 4, pp. 647-663, 2005

Posted: 29 Feb 2008

See all articles by A. C. Meijdam

A. C. Meijdam

Tilburg University - Center for Economic Research (CentER); Tilburg University - Department of Economics

e A. A. Verbon

affiliation not provided to SSRN

Date Written: October 2005

Abstract

This paper focuses on the effect that population ageing has on the production structure of the economy and consequently on economic growth. We consider an economy that consists of a service sector and a commodity sector. Productivity growth only occurs in the latter sector and is assumed to depend positively on its size. We show that if old agents mainly demand labour-intensive services, the effect of increasing longevity on growth depends on the substitutability of labour and capital in a closed economy. However, ageing unambiguously decreases long-run growth in a small open economy.

JEL Classification: D91; E60; H55; J14; O41

Suggested Citation

Meijdam, A.C. (Lex) and Verbon, e A. A., Serving the Old: Ageing and Economic Growth (October 2005). Oxford Economic Papers, Vol. 57, Issue 4, pp. 647-663, 2005, Available at SSRN: https://ssrn.com/abstract=916847

A.C. (Lex) Meijdam

Tilburg University - Center for Economic Research (CentER) ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands
+31 13 466 23 85 (Phone)
+31 13 466 30 42 (Fax)

Tilburg University - Department of Economics

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

E A. A. Verbon

affiliation not provided to SSRN

No Address Available

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