A New 'New Normal' in Demography and Economic Growth

Journal of Indexes, September/October 2013

Posted: 8 Feb 2017

See all articles by Robert D. Arnott

Robert D. Arnott

Research Affiliates, LLC

Denis B. Chaves

The Capital Group Companies

Date Written: September 1, 2013


In this paper, we show that the historically unmatched economic performance experienced by developed countries over the past 60 years was supported by temporary and abnormal demographic conditions: extraordinary growth in the working-age population supporting both a plunging roster of young people as well as a still-modest roster of senior citizens. In other words, we have experienced a one-off demographic dividend of massive proportions.

Suggested Citation

Arnott, Robert D. and Chaves, Denis Biangolino, A New 'New Normal' in Demography and Economic Growth (September 1, 2013). Journal of Indexes, September/October 2013, Available at SSRN: https://ssrn.com/abstract=2913252

Robert D. Arnott (Contact Author)

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Denis Biangolino Chaves

The Capital Group Companies ( email )

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Los Angeles, CA 90071
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