A Profit-Based Theory of Economic Growth and Upward Shift of Labor Supply Curve Implied by Phillips Curve

2018 ◽  
Author(s):  
Yi Rui Wang
Keyword(s):  
Economic Growth ◽  
Labor Supply ◽  
Phillips Curve ◽  
Supply Curve ◽  
Upward Shift

Implications of higher retirement age for the labor market

2017 ◽  
pp. 22-39 ◽  
Author(s):  
M. Ivanova ◽  
A. Balaev ◽  
E. Gurvich
Keyword(s):  
Economic Growth ◽  
Labor Market ◽  
Labor Supply ◽  
Labor Force ◽  
Labor Demand ◽  
Retirement Age ◽  
Demographic Trends ◽  
Men And Women ◽  
Demographic Projections ◽  
The Impact

The paper considers the impact of the increase in retirement age on labor supply and economic growth. Combining own estimates of labor participation and demographic projections by the Rosstat, the authors predict marked fall in the labor force (by 5.6 million persons over 2016-2030). Labor demand is also going down but to a lesser degree. If vigorous measures are not implemented, the labor force shortage will reach 6% of the labor force by the period end, thus restraining economic growth. Even rapid and ambitious increase in the retirement age (by 1 year each year to 65 years for both men and women) can only partially mitigate the adverse consequences of demographic trends.

scholarly journals Inflation and Unemployment Trade-off: Is Phillips Curve True for African Developing Countries? Evidence from Sudan

2021 ◽  
Vol 4 (3) ◽  
Author(s):  
Omer Allagabo Omer Mustafa
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Phillips Curve ◽  
Economic Thought ◽  
Trade Off ◽  
Long Run ◽  
Short Run ◽  
Wage Inflation ◽  
The Relationship

The relationship between wage inflation and unemployment (Phillips Curve) is controversial in economic thought, and the controversy is centered around whether there is always a trade-off or not. If this relationship is negative it is called The short-run Fillips Curve. However, in the long run, this relationship may probable not exist. The matter of how inflation and unemployment influence economic growth, is debatably among macroeconomic policymakers. This study examines the behavior of the Phillips Curve in Sudan and its effect on economic growth.

scholarly journals The Impact of Population Ageing and Labor Supply on Economic Growth - Analysis Based on Panel Autoregressive Model

2020 ◽  
Vol 11 (1) ◽  
pp. 51-58
Author(s):  
Changing Sun
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Labor Supply ◽  
Growth Analysis ◽  
The Elderly ◽  
Variance Decomposition ◽  
Population Ageing ◽  
Theoretical Level ◽  
The Impact ◽  
Auto Regression

AbstractPopulation Ageing will increase the proportion of the elderly in the population and affect the Labor supply, which will eventually have an effect on the economy. This paper first analyzes the impact of aging on labor supply and economic growth from the theoretical level. Population ageing argues will reduce the supply of labor and hamper economic growth. Then, based on the panel data of 31 provinces, municipalities and autonomous regions in China, this paper uses panel auto-regression Model. An empirical analysis of the interaction between population ageing and labor force is carried out by means of Impulse Response Diagram and variance decomposition. The study adds to evidence that ageing reduces the supply of labor and hence economic growth.

scholarly journals Net Economic Benefits from Shifting Consumption, Labor Elasticity, and Productivity Gains During an Accelerated Renewable Energy Transition in China

2020 ◽  
Author(s):  
Yidan Chen ◽  
Jiang Lin ◽  
David Roland-Holst ◽  
Can Wang
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Labor Supply ◽  
Energy Transition ◽  
Consumption Patterns ◽  
Energy Costs ◽  
Job Growth ◽  
Multiplier Effects ◽  
Elastic Labor Supply ◽  
Business As Usual

Abstract China is the world’s largest greenhouse gas (GHG) emitter, but declining wind and solar energy costs present opportunities to transform its electric power sector. In 2017, China launched a national emission trading scheme (ETS). Evidence to date suggests that the ETS mitigates CO2 emissions and promotes renewable energy deployment but constrains economic growth. These studies, however, do not account comprehensively for economic impacts. Ours is the first to account for three multiplier effects—shifting consumption patterns, job growth with elastic labor supply, and higher total factor productivity (TFP)—when modeling accelerated renewable electricity growth with the ETS in China. Results from a detailed economic forecasting model show low renewable energy costs interacting with the ETS to slash GHG emissions while directly stimulating incremental net positive economic growth by 2030, compared with a business-as-usual scenario that assumes slower renewable cost reductions and no ETS. Accounting for the multiplier effects reveals larger potential benefits, including up to 15.6% of additional GDP growth (over business as usual) by 2030 when shifting consumption patterns, job growth with elastic labor supply, and higher TFP are all considered. These results suggest that China should accelerate its clean energy transition, not only for the air-quality and climate benefits, but also for the broad and positive impact on innovation, employment, and economic growth.

Sign in / Sign up

Export Citation Format

Share Document