Shock persistence in output and the role of stochastic population growth

This paper illustrates both analytically and empirically that stochastic long-memory in economic growth arises due to the presence of a long-memory in population growth. Specifically, we show that the long-run conditional mean and variances of economic growth are functions of stochastic long-memory in demographic system. This is well-supported by an empirical example.

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Year of publication:	2010
Authors:	Mishra, Tapas ; Prskawetz, Alexia ; Parhi, Mamata ; Diebolt, Claude
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 30.2010, 3, p. 2437-2449
Publisher:	AccessEcon
Subject:	economy-demographic interaction \| long-memory \| economic growth \| stochastic population \| stochastic economic growth

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	B4 - Economic Methodology ; A1 - General Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008643835