Endogenous fertility and human capital in a Schumpeterian growth model

Item Type Journal paper
Abstract

This study develops a scale-invariant Schumpeterian growth model with endogenous fertility and human capital accumulation. The model features two engines of long-run economic growth: R&D-based innovation and human capital accumulation. One novelty of this study is endogenous fertility, which negatively affects the growth rate of human capital. Given this growth-theoretic framework, we characterize the dynamics of the model and derive comparative statics of the equilibrium growth rates with respect to structural parameters. As for policy implications, we analyze how patent policy affects economic growth through technological progress, human capital accumulation, and endogenous fertility. In summary, we find that strengthening patent protection has (a) a positive effect on technological progress, (b) a negative effect on human capital accumulation through a higher rate of fertility, and (c) an ambiguous overall effect on economic growth.

Authors Cozzi, Guido; Chu, Angus & Liao, Chih-Hsing
Journal or Publication Title Journal of Population Economics
Language English
Keywords Economic growth, endogenous fertility, patent policy
Subjects economics
HSG Classification contribution to scientific community
HSG Profile Area SEPS - Economic Policy
Refereed Yes
Date 11 January 2013
Publisher Springer Science
Place of Publication Berlin Heidelberg
Volume 26
Number 1
Page Range 181-202
Number of Pages 22
ISSN 0933-1433
ISSN-Digital 1432-1475
Publisher DOI 10.1007/s00148-012-0433-9
Depositing User Prof. PhD Guido Cozzi
Date Deposited 11 Apr 2013 16:55
Last Modified 23 Aug 2016 11:16
URI: https://www.alexandria.unisg.ch/publications/222044

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Citation

Cozzi, Guido; Chu, Angus & Liao, Chih-Hsing (2013) Endogenous fertility and human capital in a Schumpeterian growth model. Journal of Population Economics, 26 (1). 181-202. ISSN 0933-1433

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https://www.alexandria.unisg.ch/id/eprint/222044
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