Advertisement

Economic Growth, Labour Effort and Fertility Choice in Greece: Evidence and Implications for Economic Integration

  • George Hondroyiannis
  • Sarantis Lolos
  • Evangelia Papapetrou
Chapter
  • 50 Downloads

Abstract

Many economists believe there is a relationship between family behaviour and economic growth. According to Becker (1988), ‘family behaviour is active, not passive, and endogenous, not exogenous. Families have large effects on the economy, and evolution of the economy greatly changes the structure and decisions of families.’

Keywords

Unit Root Labour Effort Impulse Response Function Forecast Error Variance Time Series Regression 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Bank of Greece (1996) Annual Report for the Year 1995 (Athens: Bank of Greece).Google Scholar
  2. Barro, R. J. and G. S. Becker (1989) ‘Fertility Choice in a Model of Economic Growth’, Econometrica, vol. 57, pp. 481–501.CrossRefGoogle Scholar
  3. Becker, G. S. (1960) ‘An Economic Analysis of Fertility’, in Demographic and Economic Change in Developed Countries: A Conference of the Universities, NBER Committee of Economic Research (Princeton, NJ: Princeton, University Press).Google Scholar
  4. Becker, G. S. (1973) ‘A Theory of Marriage: Part I’, journal of Political Economy, no. 81, pp. 813–46.CrossRefGoogle Scholar
  5. Becker, G. S. (1988) ‘Family Economics and Macro Behaviour’, American Economic Review, vol. 78, pp. 1–13.Google Scholar
  6. Becker, G. S. (1992) ‘Fertility and the Economy’, Journal of Population Economics, vol. 5, pp. 185–201.CrossRefGoogle Scholar
  7. Becker, G. S. and R. J. Barro (1988) ‘A Reformulation of the Economic Theory of Fertility’, Quarterly Journal of Economics vol. 103, pp. 1–25.CrossRefGoogle Scholar
  8. Becker, G. S., K. Murphy and R. Tamura (1990) ‘Human Capital Fertility and Economic Growth’, Journal of Political Economy, vol. 98, pp. S12–S37.CrossRefGoogle Scholar
  9. Blaug, M. (1962) Economic Theory in Retrospect, (London: Heinemann).Google Scholar
  10. Brander, J. A. and S. Dowrick (1993) ‘The Role of Fertility and Population in Economic Growth: Empirical Results from Aggregate Cross-National Data’, NBER Working Paper, no. 4270 (Cambridge, MASS: NBER).CrossRefGoogle Scholar
  11. Campbell, J. Y. and P. Perron (1991) ‘Pitfalls and Opportunities: What Macro-economists should know About Unit Roots’, in Blanchard and Fischer (eds), NBER Macroeconomics Annual 1991 (Cambridge, MASS: MIT Press), pp. 141–201.Google Scholar
  12. Choi, I. (1992) ‘Effects of Data Aggregation on the Power of Tests for a Unit Root’, Economic Letters, vol. 40, pp. 397–401.CrossRefGoogle Scholar
  13. De Jong, D. N., J. C. Nankervis, N. E. Savin and C. H. Whiteman (1989) ‘Integration Versus Trend Stationarity in Macroeconomic Time Series’, University of Iowa Working Paper (Iowa: University of Iowa) pp. 89–99.Google Scholar
  14. Dickey, D. A. and W. A Fuller (1979) ‘Distributions of the Estimators for Autoregressive Time Series with a Unit Root’, Journal of the American Statistical Association, vol. 74, pp. 427–31.Google Scholar
  15. Dickey, D. A. and W. A. Fuller (1981) ‘The Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root’, Econometrica, vol. 49, pp. 1057–72.CrossRefGoogle Scholar
  16. Ehrlich, I. (1990) ‘Introduction’, Journal of Political Economy, vol. 98, pp. S1–S11.CrossRefGoogle Scholar
  17. Ehrlich, I. and F. T. Lui (1991) ‘Intergenerational Trade, Longevity, and Economic Growth’, Journal of Political Economy, vol. 99, pp. 1029–59.CrossRefGoogle Scholar
  18. Enders, W. (1995) Applied Econometric Time Series, (New York: John Wiley).Google Scholar
  19. Engle, R. F. and C. W. J. Granger (1987) ‘Cointegration and Error-Correction: Representation, Estimation and Testing’, Econometrica, vol. 55, pp. 251–76.CrossRefGoogle Scholar
  20. Fuller, W. A. (1976) Introduction to Statistical Time Series (New York: John Wiley).Google Scholar
  21. Johansen, S. (1988) ‘Statistical and Hypothesis Testing of Cointegration Vectors’, Journal of Economic Dynamics and Control, vol. 12, pp. 231–54.CrossRefGoogle Scholar
  22. Johansen, S. and K. Juselius (1990) ‘Maximum Likelihood Estimation and Inference on Cointegration — with Applications to the Demand for Money’, Oxford Bulletin of Economics, vol. 52, pp. 169–210.CrossRefGoogle Scholar
  23. Johansen, S. and K. Juselius (1992) ‘Testing Structural Hypotheses in a Multivariate Cointegration Analysis at the Purchasing Power Parity and the Uncovered Interest Parity for the UK’, Journal of Econometrics, vol. 53, pp. 211–44.CrossRefGoogle Scholar
  24. Kwiatkowski, D., P. C. B. Phillips, P. Schmidt and Y. Shin (1992) ‘Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root’, Journal of Econometrics, vol. 54, pp. 159–78.CrossRefGoogle Scholar
  25. Malthus, T. R. (1798), An Essay on Population (Reprints of economic classics, 1965), (New York: Augustus Kelley).Google Scholar
  26. Perron, P. (1988) ‘Trends and Random Walks in Macroeconomic Time Series: Further Evidence from a New Approach’, Journal of Dynamic and Control, vol. 12, pp. 297–332.CrossRefGoogle Scholar
  27. Perron, P. (1990) ‘Tests of Joint Hypotheses in Time Series Regression with a Unit Root’, in G. F. Rhodes, et al. (eds), Advances in Econometrics: Co-Integration, Spurious Regression and Unit Roots, vol. 8 (New York), pp. 10–20.Google Scholar
  28. Phillips, P. C. B. (1987) ‘Time Series Regression with a Unit Root’, Econometrica, vol. 55, pp. 277–346.CrossRefGoogle Scholar
  29. Phillips, P. C. B., and P. Perron (1988) ‘Testing for a Unit Root in Time Series Regression’, Biometrica, vol. 75, pp. 335–46.CrossRefGoogle Scholar
  30. Provopoulos, G. (1987) The Social Security System in Greece: Macroeconomic Facets of the Financial Problem (Athens: Institute of Economic and Industrial Research) (in Greek).Google Scholar
  31. Sapiro, M. D. and W. W. Watson (1988) ‘Sources of Business Cycle Fluctuation’, NBER Macroeconomics Annual, (Cambridge, MASS: MIT Press), pp. 111–56.Google Scholar
  32. Schumpeter, J. A. (1954) History of Economic Analysis (New York: Oxford University Press).Google Scholar
  33. Schwert, G. W. (1987) ‘Effects of Model Specification on Tests for Unit Roots in Macroeconomic Data’, Journal of Monetary Economics, vol. 20, pp. 73–101.CrossRefGoogle Scholar
  34. Simon, J. L. (1992) Population and Development in Poor Countries (Princeton, NJ: Princeton University Press).CrossRefGoogle Scholar
  35. Smith, A. (1937) An Inquiry into the Nature and Causes of the Wealth of Nations (New York: Modern Library).Google Scholar
  36. Solow, R. M. (1956) ‘A Contribution to the Theory of Economic Growth’, Quarterly Journal of Economics, vol. 70, pp. 65–94.CrossRefGoogle Scholar
  37. Voloudakis, E. A. (1980) ‘A Cross-regional Econometric Investigation of Fertility Behaviour in Greece’, Greek Economic Review, vol. 2, pp. 255–72.Google Scholar
  38. Wang, P., C. K. Yip and C. A. Scotese (1994) ‘Fertility Choice and Economic Growth Theory and Evidence’, The Review of Economics and Statistics, vol. 46, no. 2 pp. 255–66.CrossRefGoogle Scholar
  39. Winegarden, C. R. and M. Wheeler (1992) ‘The Role of Economic Growth in the Fertility Transition in Western Europe: Econometric Evidence’, Economica, vol. 59, pp. 421–35.CrossRefGoogle Scholar

Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 2002

Authors and Affiliations

  • George Hondroyiannis
  • Sarantis Lolos
  • Evangelia Papapetrou

There are no affiliations available

Personalised recommendations