The demographic transition can affect the equilibrium real interest rate through three channels. An increase in longevity - or expectations thereof - puts downward pressure on the real interest rate, as agents build up their savings in anticipation of a longer retirement period. A reduction in...

This paper extends public spending-based growth theory along three directions: we assume that exogenous and constant technological progress does exist and that both population change and the ratio of government expenditure to income follow a logistic trajectory. By focusing on the choices of a...

The nexus of population dynamics and environmental degradation has been discussed widely in the extant literature. Most related studies have utilized carbon emission as a proxy of environmental quality. However, carbon emission does not capture the multidimensional nature of environmental...