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dc.contributor.authorGuest, Ross
dc.contributor.editorKenneth Chan and Yin-Wong Cheung
dc.date.accessioned2017-05-03T11:35:35Z
dc.date.available2017-05-03T11:35:35Z
dc.date.issued2011
dc.date.modified2012-02-14T04:02:33Z
dc.identifier.issn1361-374X
dc.identifier.doi10.1111/j.1468-0106.2011.00553.x
dc.identifier.urihttp://hdl.handle.net/10072/42518
dc.description.abstractThis paper analyses the implications of population ageing for the capital intensity of output and, therefore, labour productivity. Population ageing leads to sectoral shifts in demand for goods and services. If such shifts occur between goods that differ in their capital intensity, there will be a change in the average capital intensity of the economy and, therefore, in average labour productivity. In order to gauge the magnitudes of such effects, the present paper reports simulations of a calibrated model with two final goods and two intermediate goods, using data for two Pacific Rim countries for comparison: the United States and Australia. The data for these countries suggest that population ageing will, on average, shift expenditure towards goods with a relatively high capital intensity. The magnitude of the increase in labour productivity according to the simulations is likely to be small, but perhaps not trivial: in the order of 1-4% per annum by 2050. This might partially offset the negative effect of ageing on living standards.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.languageEnglish
dc.publisherWiley-Blackwell Publishing Asia
dc.publisher.placeAustralia
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom371
dc.relation.ispartofpageto388
dc.relation.ispartofissue3
dc.relation.ispartofjournalPacific Economic Review
dc.relation.ispartofvolume16
dc.rights.retentionY
dc.subject.fieldofresearchMacroeconomics (incl. Monetary and Fiscal Theory)
dc.subject.fieldofresearchEconomics
dc.subject.fieldofresearchcode140212
dc.subject.fieldofresearchcode14
dc.titlePopulation Ageing, Capital Intensity and Labour Productivity
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.date.issued2011
gro.hasfulltextNo Full Text
gro.griffith.authorGuest, Ross


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