A Politico-economic Model of Aging, Technology Adoption and Growth
| Autor: | Francesco Lancia, Giovanni Prarolo |
|---|---|
| Přispěvatelé: | G. Prarolo, F. Lancia |
| Jazyk: | angličtina |
| Rok vydání: | 2012 |
| Předmět: |
Economics and Econometrics
O43 Overlapping Generations Life expectancy Majority voting Systemic innovation Growth Overlapping generations model Settore SECS-P/02 - Politica Economica Human capital D70 Sterblichkeit OECD-Staaten Politics Life Expectancy Humankapital Life expectancy Majority voting Systemic innovation Economics jel:O43 ddc:330 Settore SECS-P/01 - Economia Politica Demography Social policy O31 jel:D70 Human Capital Poverty J10 Growth Life Expectancy Human Capital Systemic Innovation Majority Voting Systemic Innovation Technologiepolitik Innovationspolitik Majority Voting jel:J10 O14 jel:O31 SECS-P/01 Economia politica Alternde Bevölkerung Incentive Quaderni - Working Paper DSE Economic model Economic system jel:O14 growth life expectancy human capital systemic innova- tion majority voting Theorie |
| Zdroj: | Lancia, Francesco ; Prarolo, Giovanni (2007) A Politico-Economic Model of Aging, Technology Adoption and Growth. Bologna: Dipartimento di Scienze economiche DSE, p. 21. DOI 10.6092/unibo/amsacta/4693 |
| Popis: | Over the past century, all OECD countries have been characterized by a dramatic increase in economic conditions, life expectancy and edu- cational attainment. This paper provides a positive theory that explains how an economy might evolve when the longevity of its citizens both influences and is influenced by the process of economic development. We propose a three periods OLG model where agents, during their lifetime, cover di¤erent economic roles characterized by di¤erent incentive schemes and time horizon. Agents' decisions embrace two dimensions: the private choice about education and the public one upon innovation policy. The theory focuses on the crucial role played by heterogeneous interests in determining innovation policies, which are one of the keys to the growth process: the economy can be discontinuously innovation-oriented due to the di¤erent incentives of individuals and di¤erent schemes of political aggregation of preferences. The model produces multiple development regimes associated with di¤erent predictions about life expectancy evolu- tion, educational investment dynamics, and technology adoption policies. Transitions between these regimes depend on initial conditions and parameter values. |
| Databáze: | OpenAIRE |
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