Why isn't convergence instantaneous? Young workers, old workers, and gradual adjustment

Journal of Economic Growth

Volumn 3, Issue 1, 1998, Pages 5-28

  Kremer, Michael ^a   Thomson, James ^b  

^a MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^b UNIVERSITY OF MELBOURNE   (Australia)

Author keywords

Adjustment; Age; Complementarity; Convergence; Growth; Old workers; Young workers

Indexed keywords

EID: 2342594220     PISSN: 13814338     EISSN: None     Source Type: Journal    
DOI: 10.1023/A:1009797314078     Document Type: Article

References (29)

1. Barro, Robert J., N. Gregory Mankiw, and Xavier Sala-i-Martin. (1995). "Capital Mobility in Neoclassical Models of Growth." American Economic Review 85, 103-115.
2. Barro, Robert J., and Xavier Sala-i-Martin. (1992). "Convergence." Journal of Political Economy 100, 223-2251.
3. Barro, Robert J., and Xavier Sala-i-Martin. (1995). Economic Growth. New York: McGraw-Hill.
4. Benhabib, Jess, and Aldo Rustichini. (1991). "Vintage Capital, Investment, and Growth." Journal of Economic Theory 55, 323-339.
5. Caselli, Francesco, Gerardo Esquivel, and Fernando Lefort. (1996). "Reopening the Convergence Debate: A New Look at Cross-Country Growth Empirics." Journal of Economic Growth 1, 363-389.
6. Chari, V. V., and Hugo Hopenhayn. (1991). "Vintage Human Capital, Growth, and the Diffusion of New Technology." Journal of Political Economy 99, 1142-1165.
7. Cohen, Daniel, and Jeffrey Sachs. (1986). "Growth and External Debt Under Risk of Debt Repudiation." European Economic Review 78, 1138-1154.
8. Dowrick, Steve, and D. Nguyen. (1989). "OECD Comparative Economic Growth 1950-85: Catch-Up and Convergence." American Economic Review 79, 1010-1030.
9. Freeman, Richard B. (1975a). "Overinvestment in College Training?" Journal of Human Resources 10, 287-311.
10. Freeman, Richard B. (1975b). "Supply and Salary Adjustments to the Changing Science Manpower Market: Physics 1948-1973." American Economic Review 65, 27-39.
11. Freeman, Richard B. (1976). "A Cobweb Model of the Supply and Starting Salary of New Engineers." Industrial and Labor Relations Review 29, 236-248.
12. Goldin, Claudia, and Robert A. Margo. (1992). "The Great Compression: The Wage Structure in the United States at Mid-Century." Quarterly Journal of Economics 107, 1-34.
13. Hopcraft, Peter N. (1974). "Human Resources and Technical Skills in Agricultural Development: An Economic Evaluation of Educative Investments in Kenya's Small Farm Sector." Ph.D. dissertation, Stanford University.
14. Islam, Nazrul. (1995). "Growth Empirics: A Panel Data Approach." Quarterly Journal of Economics 110, 1127-1170.
15. Katz, Lawrence, and Kevin M. Murphy. (1992). "Changes in Relative Wages, 1963-87: Supply and Demand Factors." Quarterly Journal of Economics 107, 35-78.
16. Killick, Tony, ed. (1981). Papers on the Kenyan Economy. London: Heinemann.
17. Kremer, Michael, and James Thomson. (1992). "Complementarity and Substitutability of Human Capital of Different Generations." Manuscript, Harvard University.
18. Lam, David. (1989). "Population Growth, Age Structure, and Age-Specific Productivity." Journal of Population Economics 2, 189-210.
19. Lockhart, Lawrence. (1981). "The Economics of Nine Years Education for All." In Tony Killick (ed.), Papers on the Kenyan Economy. London: Heinemann.
20. Mankiw, N. Gregory, David Romer, and David N. Weil. (1992). "A Contribution to the Empirics of Economic Growth." Quarterly Journal of Economics 107, 407-437.
21. Murphy, Kevin M., and Finis Welch. (1992). "The Structure of Wages." Quarterly Journal of Economics 107, 285-326.
22. Pierce, Wayne Brooks. (1990). "Occupational Choice: the Market for Lawyers," Ph.D. dissertation, University of Chicago.
23. Prescott, Edward C., and John H. Boyd. (1987). "Dynamic Coalitions: Engines of Growth." American Economic Review 77, 63-67.
24. Stokey, Nancy L., and Robert E. Lucas, Jr., with Edward C. Prescott. (1989). Recursive Methods in Economic Dynamics. Cambridge, MA: Harvard University Press.
25. Taylor, Alan M. (1992). "External Dependence, Demographic Burdens and Argentine Economic Decline After the Belle Époque." Journal of Economic History 52, 907-936.
26. Thias, Hans H., and Martin Carnoy. (1972). "Cost Benefit Analysis in Education: A Case Study of Kenya." World Bank Staff Occasional Paper No. 14.
27. Todaro, Michael P. (1981). "Education and National Economic Development." In Tony Killick (ed.), Papers on the Kenyan Economy. London: Heinemann.
28. World Bank. (1987, 1993). World Development Report. New York: Oxford University Press.
29. World Bank. (1989-1990). World Debt Tables. New York: Oxford University Press.