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...

This paper provides evidence for a positive effect of total factor productivity growth on unemployment in cross-country regressions for OECD countries. The paper explains this empirical result with an exogenous growth model with unemployment due to unions and a CES production function with an...

The present paper shows empirically that the youth dependency ratio (the population below working age divided by the population of working age) reduces economic growth even after controlling for institutions. The institutional variable, the paper controls for, is the measure for institutions...