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- W2069884152 abstract "Population ageing is a significant demographic phenomenon facing many countries. The present paper aims to ascertain the relationship between population ageing and macroeconomic performance, within the framework of an economic growth model endogenously incorporating innovation and human capital. Consequently, the present model implies that the rate of innovation and the ratio of skilled to unskilled workers would decline over the long run as populations aged further, because of increases in life expectancy. The present model also suggests that, in general, the effect of changes in the retirement age on the rate of innovation and the ratio of skilled to unskilled workers is inconclusive. 1. INTROODUCTION Population ageing is a serious problem faced by many countries around the world. Particularly in East Asian countries such as Japan, South Korea, Singapore, and Thailand; and across Europe, population ageing in recent years has been far more rapid than in other countries and regions. This has caused concerns regarding possible stagnation of future macroeconomic performance. While population ageing has become a significant phenomenon, as described in terms such as knowledge-based economies, the economic activities of industries in developed countries have become more knowledge-intensive. East Asia, and some other developing countries, have thus in recent years been experiencing a rapid transition to a knowledge-based economy. The most important characteristic of a knowledge-based economy is that innovation for various new products and processes are created through active research and development (R&D), which is necessarily accompanied by technical knowledge of production that will accumulate to promote sustainable growth. When attempting to study economic issues in the phase of a knowl" @default.
- W2069884152 created "2016-06-24" @default.
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- W2069884152 date "2007-01-01" @default.
- W2069884152 modified "2023-09-23" @default.
- W2069884152 title "Expanding Product Variety and Human Capital Formation in an Ageing Economy" @default.
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