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Fertility Waves, Aggregate Savings and the Rate of Interest

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  • Blomquist, N S
  • Wijkander, H

Abstract

During the last 50 years there have, in many countries, been large movements in the growth of labor productivity, real wage rates, the rate of interest, and the household savings ratio. In this paper we use an overlapping generations model to study if demographic shocks, like the baby boom, can generate the kind of movements observed. Simulations show this is indeed the case. We also study the interactions between a pay-as-you-go pension system and demographic disturbances.

Suggested Citation

  • Blomquist, N S & Wijkander, H, 1994. "Fertility Waves, Aggregate Savings and the Rate of Interest," Journal of Population Economics, Springer;European Society for Population Economics, vol. 7(1), pages 27-48.
  • Handle: RePEc:spr:jopoec:v:7:y:1994:i:1:p:27-48
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    1. Daron Acemoglu & Robert Shimer, 1999. "Efficient Unemployment Insurance," Journal of Political Economy, University of Chicago Press, vol. 107(5), pages 893-928, October.
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    Cited by:

    1. Lindh, Thomas & Malmberg, Bo, 1998. "Age structure and inflation - a Wicksellian interpretation of the OECD data," Journal of Economic Behavior & Organization, Elsevier, vol. 36(1), pages 19-37, July.
    2. Jovan Zamac, 2005. "Pension Design when Fertility Fluctuates: The Role of Capital Mobility and Education Financing," CESifo Working Paper Series 1569, CESifo Group Munich.
    3. Lindh, Thomas & Malmberg, Bo, 2000. "Can age structure forecast inflation trends?," Journal of Economics and Business, Elsevier, pages 31-49.
    4. Thomas Lindh, 2004. "Medium-term forecasts of potential GDP and inflation using age structure information," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 23(1), pages 19-49.
    5. Holmberg, Pär, 2009. "Numerical calculation of an asymmetric supply function equilibrium with capacity constraints," European Journal of Operational Research, Elsevier, pages 285-295.
    6. Borge, L.E. & Dahleberg, M. & Tovmo, P., 2001. "The Intertemporal Spending Behavior of Local Governments : A Comparative Analysis of the Scandinavian Countries," Papers 2001:10, Uppsala - Working Paper Series.
    7. Berg, Lennart, 1996. "Age Distribution, Saving and Consumption in Sweden," Working Paper Series 1996:22, Uppsala University, Department of Economics.
    8. Zamac, Jovan, 2007. "Pension design when fertility fluctuates: The role of education and capital mobility," Journal of Public Economics, Elsevier, pages 619-639.
    9. Diane Macunovich, 1999. "The Baby Boom As It Ages: How Has It Affected Patterns of Consumptions and Savings in the United States?," Center for Policy Research Working Papers 7, Center for Policy Research, Maxwell School, Syracuse University.

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