Baby Busts and GDP Booms: Demographic Change and the Macroeconomy
Yves here. In the dry realm of macroeconomics, this study presents cheery news. It’s taken as a truism that an aging population, aka demographic decline, is a death kneel to economic growth. The assumption has been that the dependency ratio, as in the proportion of workers compared to those not engaged in deemed-to-be-productive activity, as…
