Population Dynamics and the Labour Market

Abstract

Of all production factors, labour is certainly the most important and specific; it is deserving of very deep consideration and there have been numerous articles and books published on this subject. A very extensive collection of papers on labour is contained in the five volumes titled Handbook of Labour Economics (1986–), edited by Ashenfelter et al. Of course, labour is supplied by people, and thus, ceteris paribus, is a function of the number of people in the economy. Hence, it is important to consider the laws governing population dynamics. We consider two alternative laws for the time evolution of a population: steady growth law and logistic growth law.