During recent years there has been an increasing awareness of the explanatory power of demographic variables in economic growth regressions. We estimate a new model of the effects of age structure change on economic growth. We use the new model and recent probabilistic demographic projections...

The effect of changes in age structure on economic growth has been widely studied in the demography and population economics literature. The beneficial effect of changes in age structure after a decrease in fertility has become known as the “demographic dividend.” In this article, we...