Agglomeration and demographic change |
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| Affiliation: | 1. Department of Management and Technology and CRIOS, Bocconi University, Via Sarfatti 25, I-20136 Milan, Italy;2. Department of Architecture, Built Environment and Construction Engineering, Politecnico di Milano, Piazza Leonardo da Vinci 32, I-20133 Milan, Italy;1. École normale supérieure Paris-Saclay, Paris, France;2. Department of Economics, Université Laval, Québec, QC, Canada;3. Sauder School of Business, University of British Columbia, Vancouver, BC, Canada;1. Institute of Economics (IdEP), University of Lugano (USI), Switzerland;2. Barcelona Economic Institute (IEB), University of Barcelona (UB), Spain |
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| Abstract: | This article investigates common consequences of demographic change and economic integration for the spatial location of economic activity. In doing so, it provides a unified framework that introduces an overlapping generation structure into a New Economic Geography model. Whether integration leads to agglomeration crucially hinges on the demographic properties of economies. While population aging strengthens concentration tendencies, population growth acts as a dispersion force. This is consistent with the stylized relationships between demography and urbanization found in the data and thus allows us to assess the possibility of agglomeration in various demographic scenarios. |
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