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Semi-Endogenous R&D Growth Model with Negative Population Growth

Sasaki, Hiroaki and Hoshida, Keisuke (2014): Semi-Endogenous R&D Growth Model with Negative Population Growth.

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Abstract

This paper investigates the rates of technological progress, total output growth, and per capita output growth when population growth is negative by using a semi-endogenous R&D growth model. The analysis shows that within finite time, the employment share of the final goods sector reaches unity, the employment share of the R&D sector reaches zero, and accordingly, the rate of technological progress leads to zero. In this case, the growth rate of per capita output asymptotically approaches a positive value.

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