Tselmuun Tserenkhuu

Dr. Tselmuun Tserenkhuu attained her Ph.D. from Lang, conducting research in the Department of Economics and Finance. Her research focuses on macroeconomics, specifically in economic development and growth, and labour economics. 

In her 2023 article, “Open Economy Neoclassical Growth Models and the Role of Life Expectancy,” published by The BE Journal of Macroeconomics, she studies the dynamics of economic growth with a focus on the role of life expectancy. Dr. Tserenkhuu and her co-author apply the Ramsey–Cass–Koopmans (RCK) growth model to open economies. Their work calibrates the model using standard parameter values to align predictions with empirical evidence on key variables' time paths and convergence speeds. 

Their research identifies limitations in open-economy RCK models, including unrealistic predictions like infinite speeds of convergence for physical capital and output, and imbalanced consumption and asset growth. Dr. Tserenkhuu addresses these by extending the model to incorporate human capital, international credit constraints, and finite horizons. 

An innovative aspect of Dr. Tserenkhuu's research is integrating life expectancy into the growth model of open economies. Unlike existing literature focusing on closed economies, her model reveals how changes in life expectancy impact long-run output per capita in open economies. 

Their findings underscore the diminishing marginal effect of increased life expectancy on long-run output per capita. Through meticulous analysis, the study estimates the economic impact of improved life expectancy, demonstrating significant increases in long-term economic prosperity. Dr. Tserenkhuu's offers fresh insights into the complex relationship between life expectancy, economic growth, and open economies.

Tserenkhuu, T., & Kosempel, S. (2023). Open Economy Neoclassical Growth Models and the Role of Life Expectancy. The BE Journal of Macroeconomics, 23(2), 1057-1092. https://doi.org/10.1515/bejm-2022-0163.