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Authors: Litina, Anastasia
Irmen, Andreas
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business::Economics
Keywords: Population Aging
Inventive Activity
Panel Estimation
Issue Date: 2022
Publisher: Cambridge University Press
Source: Macreocnomic Dynamics
Volume: 26
Issue: 5
First Page: 1127
Last Page: 1161
Abstract: This research empirically establishes and interprets the hypothesis that the relationship between population aging and inventive activity is hump-shaped. We estimate a reduced form, hump-shaped relationship in a panel of 33 OECD countries over the period 1960–2012, as well as in a panel of 248 NUTS 2 regions in Europe over the period 2001–2012. The increasing part of the hump may be associated with various channels including the acknowledgement that population aging requires inventive activity to guarantee current and future standards of living, or the observation that older educated workers are more innovative than their young peers. The decreasing part may reflect the tendency of aging societies to lose dynamism and the willingness to take risks.
ISSN: 1365-1005
Other Identifiers: 10.1017/S1365100520000516
Appears in Collections:Department of Economics

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