Population Aging and the Macroeconomy: Explorations in the Use of Immigration as an Instrument of Control
AbstractSimulation methods are employed to explore the effects of immigration as a control instrument to offset the economic and demographic consequences of low fertility rates and aging population distribution. A neoclassical economic growth model is coupled with a demographic projection model. The combined model is calibrated and used in a series of experiments. The experiments are designed to generate the time paths of a hypothetical but realistic economic-demographic system under alternative assumptions about immigration policy. The government seeks to optimize policy results in the model, according to a specified criterion function. The model is calibrated with Canadian data but some experiments are carried out using initial populations and fertility rates of other countries.
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Bibliographic InfoPaper provided by McMaster University in its series Quantitative Studies in Economics and Population Research Reports with number 398.
Length: 54 pages
Date of creation: Oct 2005
Date of revision:
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More information through EDIRC
immigration; macroeconomy; aging population; low fertility;
Other versions of this item:
- Frank T. Denton & Byron G. Spencer, 2005. "Population Aging and the Macroeconomy: Explorations in the Use of Immigration as an Instrument of Control," Social and Economic Dimensions of an Aging Population Research Papers 135, McMaster University.
- E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
- J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
- J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
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