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Tapas Mishra, Alexia Prskawetz, Mamata Parhi and Claude Diebolt
''Shock persistence in output and the role of stochastic population growth''
( 2010, Vol. 30 No.3 )
This paper illustrates both analytically and empirically that stochastic long-memory in economic growth arises due to the presence of a long-memory in population growth. Specifically, we show that the long-run conditional mean and variances of economic growth are functions of stochastic long-memory in demographic system. This is well-supported by an empirical example.
Keywords: economy-demographic interaction, long-memory, economic growth, stochastic population, stochastic economic growth.
JEL: B4 - Economic Methodology: General
A1 - General Economics: General
Manuscript Received : Aug 27 2009 Manuscript Accepted : Sep 20 2010

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