References of "Irmen, Andreas 50002026"
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See detailWirtschaftswachstum!? - Die Geschichte der Weltwirtschaft in 6 Folien
Irmen, Andreas UL

Speeches/Talks (2016)

Detailed reference viewed: 92 (3 UL)
See detailWorld Economic Growth
Irmen, Andreas UL

Speeches/Talks (2016)

Detailed reference viewed: 66 (1 UL)
Peer Reviewed
See detailEndogenous Factor Income Distribution - When Piketty meets Romer -
Irmen, Andreas UL; Tabakovic, Amer UL

Scientific Conference (2016)

Detailed reference viewed: 32 (1 UL)
Peer Reviewed
See detailEndogenous Factor Income Distribution - When Piketty meets Romer -
Irmen, Andreas UL; Tabakovic, Amer UL

Scientific Conference (2016)

Detailed reference viewed: 34 (0 UL)
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See detailCapital- and Labor-Saving Technical Change in an Aging Economy
Irmen, Andreas UL

in International Economic Review (2016)

Does population aging and the associated increase in the old-age dependency ratio affect economic growth ? The answer is given in a novel analytical framework that allows for population aging to affect ... [more ▼]

Does population aging and the associated increase in the old-age dependency ratio affect economic growth ? The answer is given in a novel analytical framework that allows for population aging to affect endogenous capital- and labor-saving technical change. In steady state capital-saving technical progress vanishes, and the economy’s growth rate of per-capita variables reflects only labor-saving technical change. The mere possibility of capital-saving technical change is shown to imply that the economy’s steady-state growth rate becomes independent of its age structure: neither a higher life-expectancy nor a decline in fertility affects economic growth in the long run. [less ▲]

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See detailA Note on the Characterization of the Neoclassical Production Function
Irmen, Andreas UL; Maussner, Alfred

in Macroeconomic Dynamics (2016)

We study production functions with capital and labor as arguments that exhibit positive, yet diminishing marginal products and constant returns to scale. We show that such functions satisfy the Inada ... [more ▼]

We study production functions with capital and labor as arguments that exhibit positive, yet diminishing marginal products and constant returns to scale. We show that such functions satisfy the Inada conditions if i) both inputs are essential and ii) an unbounded quantity of either input leads to unbounded output. This allows for an alternative characterization of the neoclassical production function that altogether dispenses with the Inada conditions. While this proposition generalizes to the case of n > 2 factors of production its converse does not hold: 2n Inada conditions do not imply that each factor is essential. [less ▲]

Detailed reference viewed: 234 (3 UL)
See detailPopulation Aging and Innovation: Do Old Societies Think New Ideas?
Litina, Anastasia UL; Irmen, Andreas UL

Presentation (2015, June)

This research advances the hypothesis that at the individual level "old people think old ideas" whereas at the aggregate level "old societies think new ideas." More precisely, we empirically establish the ... [more ▼]

This research advances the hypothesis that at the individual level "old people think old ideas" whereas at the aggregate level "old societies think new ideas." More precisely, we empirically establish the following three hypotheses: i) population aging has a hump-shaped effect on innovation, ii) old societies foster new ideas, and iii) the effect of population aging on innovation operates partly through a favorable attitude towards new ideas and creativity. Our results falsify the often encountered vision according to which old societies have old ideas. Moreover, they emphasize that innovation activity in aging societies is in part driven by cultural attitudes. [less ▲]

Detailed reference viewed: 80 (4 UL)
See detailPopulation Aging and Innovation: Do Old Societies Think New Ideas?
Litina, Anastasia UL; Irmen, Andreas UL

Scientific Conference (2015, May)

This research advances the hypothesis that at the individual level "old people think old ideas" whereas at the aggregate level "old societies think new ideas." More precisely, we empirically establish the ... [more ▼]

This research advances the hypothesis that at the individual level "old people think old ideas" whereas at the aggregate level "old societies think new ideas." More precisely, we empirically establish the following three hypotheses: i) population aging has a hump-shaped effect on innovation, ii) old societies foster new ideas, and iii) the effect of population aging on innovation operates partly through a favorable attitude towards new ideas and creativity. Our results falsify the often encountered vision according to which old societies have old ideas. Moreover, they emphasize that innovation activity in aging societies is in part driven by cultural attitudes. [less ▲]

Detailed reference viewed: 60 (1 UL)
Peer Reviewed
See detailPopulation Aging and Innovation: Do Old Societies Think New Ideas?
Litina, Anastasia UL; Irmen, Andreas UL

Scientific Conference (2015, March)

This research advances the hypothesis that at the individual level "old people think old ideas" whereas at the aggregate level "old societies think new ideas." More precisely, we empirically establish the ... [more ▼]

This research advances the hypothesis that at the individual level "old people think old ideas" whereas at the aggregate level "old societies think new ideas." More precisely, we empirically establish the following three hypotheses: i) population aging has a hump-shaped effect on innovation, ii) old societies foster new ideas, and iii) the effect of population aging on innovation operates partly through a favorable attitude towards new ideas and creativity. Our results falsify the often encountered vision according to which old societies have old ideas. Moreover, they emphasize that innovation activity in aging societies is in part driven by cultural attitudes. [less ▲]

Detailed reference viewed: 75 (0 UL)
Full Text
See detailLes sociétés vieillissantes sont-elles favorables aux idées nouvelles?
Irmen, Andreas UL; Litina, Anastasia UL

Article for general public (2015)

Detailed reference viewed: 73 (2 UL)
Peer Reviewed
See detailA Generalized Steady-State Growth Theorem
Irmen, Andreas UL

Scientific Conference (2015)

Uzawa’s steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference ... [more ▼]

Uzawa’s steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference between aggregate final-good production and these resources is referred to as net output. The new generalized steady-state growth theorem holds since net output exhibits constant returns to scale in capital and labor. This insight provides an understanding for why technical change is labor-augmenting in steady state even if capital-augmenting technical change is feasible. By example, this point is made for three recent growth models that allow for endogenous capital- and labor-augmenting technical change, namely, Irmen (2013), Acemoglu (2003), and Acemoglu (2009), Chapter 15. The reduced form of these models is shown to be consistent with the generalized steady-state growth theorem. [less ▲]

Detailed reference viewed: 112 (2 UL)
Full Text
See detailEndogenous Capital- and Labor-Augmenting Technical Change in the Neoclassical Growth Model
Irmen, Andreas UL; Tabakovic, Amer UL

E-print/Working paper (2015)

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans ... [more ▼]

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital- and labor-augmenting technical change. We develop a novel micro-foundation for the competitive production sector that rests on the idea that the fabrication of output requires tasks to be performed by capital and labor. Firms may engage in innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These investments are associated with new technological knowledge that accumulates over time and sustains long-run growth. We show that the equilibrium allocation is not Pareto-efficient since both forms of technical change give rise to an inter-temporal knowledge externality. An appropriate policy of investment subsidies may implement the efficient allocation. [less ▲]

Detailed reference viewed: 151 (24 UL)
Peer Reviewed
See detailEndogenous Capital- and Labor-Augmenting Technical Change in the Neoclassical Growth Model
Irmen, Andreas UL

Scientific Conference (2015)

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans ... [more ▼]

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital- and labor-augmenting technical change. We develop a novel micro-foundation for the competitive production sector that rests on the idea that the fabrication of output requires tasks to be performed by capital and labor. Firms may engage in innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These investments are associated with new technological knowledge that accumulates over time and sustains long-run growth. We show that the equilibrium allocation is not Pareto-efficient since both forms of technical change give rise to an inter-temporal knowledge externality. An appropriate policy of investment subsidies may implement the efficient allocation. [less ▲]

Detailed reference viewed: 124 (7 UL)
Peer Reviewed
See detailCapital- and Labor-Saving Technical Change in an Aging Economy
Irmen, Andreas UL

Scientific Conference (2015)

Does population aging and the associated increase in the old-age dependency ratio affect economic growth ? The answer is given in a novel analytical framework that allows for population aging to affect ... [more ▼]

Does population aging and the associated increase in the old-age dependency ratio affect economic growth ? The answer is given in a novel analytical framework that allows for population aging to affect endogenous capital- and labor-saving technical change. In steady state capital-saving technical progress vanishes, and the economy’s growth rate of per-capita variables reflects only labor-saving technical change. The mere possibility of capital-saving technical change is shown to imply that the economy’s steady-state growth rate becomes independent of its age structure: neither a higher life-expectancy nor a decline in fertility affects economic growth in the long run. [less ▲]

Detailed reference viewed: 147 (4 UL)
Peer Reviewed
See detailA Generalized Steady-State Growth Theorem
Irmen, Andreas UL

Scientific Conference (2015)

Uzawa’s steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference ... [more ▼]

Uzawa’s steady-state growth theorem (Uzawa (1961)) is generalized to a neoclassical economy that uses current output, e. g., to create technical progress or to manufacture intermediates. The difference between aggregate final-good production and these resources is referred to as net output. The new generalized steady-state growth theorem holds since net output exhibits constant returns to scale in capital and labor. This insight provides an understanding for why technical change is labor-augmenting in steady state even if capital-augmenting technical change is feasible. By example, this point is made for three recent growth models that allow for endogenous capital- and labor-augmenting technical change, namely, Irmen (2013), Acemoglu (2003), and Acemoglu (2009), Chapter 15. The reduced form of these models is shown to be consistent with the generalized steady-state growth theorem. [less ▲]

Detailed reference viewed: 118 (2 UL)
See detailEndogenous Capital- and Labor-Augmenting Technical Change in the Neoclassical Growth Model
Irmen, Andreas UL

Presentation (2015)

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans ... [more ▼]

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital- and labor-augmenting technical change. We develop a novel micro-foundation for the competitive production sector that rests on the idea that the fabrication of output requires tasks to be performed by capital and labor. Firms may engage in innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These investments are associated with new technological knowledge that accumulates over time and sustains long-run growth. We show that the equilibrium allocation is not Pareto-efficient since both forms of technical change give rise to an inter-temporal knowledge externality. An appropriate policy of investment subsidies may implement the efficient allocation. [less ▲]

Detailed reference viewed: 99 (5 UL)
See detailEndogenous Capital- and Labor-Augmenting Technical Change in the Neoclassical Growth Model
Irmen, Andreas UL

Presentation (2015)

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans ... [more ▼]

The determinants of the direction of technical change and their implications for economic growth and economic policy are studied in the one-sector neoclassical growth model of Ramsey, Cass, and Koopmans extended to allow for endogenous capital- and labor-augmenting technical change. We develop a novel micro-foundation for the competitive production sector that rests on the idea that the fabrication of output requires tasks to be performed by capital and labor. Firms may engage in innovation investments that increase the productivity of capital and labor in the performance of their respective tasks. These investments are associated with new technological knowledge that accumulates over time and sustains long-run growth. We show that the equilibrium allocation is not Pareto-efficient since both forms of technical change give rise to an inter-temporal knowledge externality. An appropriate policy of investment subsidies may implement the efficient allocation. [less ▲]

Detailed reference viewed: 98 (1 UL)