Summary
The demo-economic multiplier which we used in our computations, is a measure for the influence of the demographic pattern on the economy. In the first part of our paper the demo-economic multiplier is derived, which indicates the total (direct and indirect) deliveries of the sectors of the economy for the different types of households.
The following section is devoted to an evaluation of the impact of the population size and structure on the economy. To achieve this, we use a rate of sensitivity which is defined on a special matrix norm.
The derived demo-economic multiplier is added to a multisectoral model of the Austrian economy MUSEM A78. The main conclusion of our computation is the fact that a change in the demographic pattern shows only little effect on the overall economic development. The structural effect, however, is significant and would certainly be more interesting, if more disaggregated data could be used.
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We have to thank G. Orosel, P. Mitter and U. Schubert for valuable discussions as well as by two anonymous referees for interesting comments.
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Luptačik, M., Schmoranz, I. Demographic changes and economic consequences: Demo-economic multiplier for Austria. Empirical Economics 5, 55–67 (1980). https://doi.org/10.1007/BF01848043
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DOI: https://doi.org/10.1007/BF01848043