Scandinavian Working Papers in Business Administration
Working Papers,
Örebro University, School of Business
No 2004:7: The Population Age Distribution, Human Capital, and Economic Growth: The U.S. states 1930-2000 *
Joakim Persson
Additional contact information
Joakim Persson: Department of Business, Economics, Statistics and Informatics, Postal: Örebro University, Department of Business, Economics, Statistics and Informatics, SE - 701 82 ÖREBRO, Sweden
Abstract: Abstract
This paper introduces age-based population heterogeneity in the Mankiw, Romer, and Weil (1992)model to improve measurement of aggregate labor and aggregate human capital. The estimation results are consistent with this model, and they indicate a hump-shaped and quantitatively important partial relation between the initial population age distribution and the subsequent rate of economic growth for the U.S. states for the period 1930-2000. This paper also finds that the estimated growth effects of the initial level of income per capita, of educational attainment, and of variables measuring the population growth rate are substantially biased if the age distribution is not accounted for.
Keywords: Population age structure; Regional Economic growth; Human capital; Population Growth; Migration
20 pages, November 23, 2004
Price: 120
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