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The Global Macroeconomic Consequences of a Demographic Transition

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  • Warwick J. McKibbin

    (Centre for Applied Macroeconomic Analysis, Research School of Pacific & Asian Studies, Australian National University, Canberra ACT 2600, Australia.)

Abstract

The world is in the midst of a significant demographic transition with potential implications for the macroeconomic performance of the global economy. This paper summarizes the key features of current and projected demographic change. It then applies a new 10-region global model (an extended version of the MSG-Cubed model) incorporating demographic dynamics, to examine the consequences of projected global demographic change on the world economy from 2005 to 2050. A distinction is made between the effects on each country of its own demographic transition and the effects on each country of demographic changes occurring in the rest of the world. (c) 2006 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

Suggested Citation

  • Warwick J. McKibbin, 2006. "The Global Macroeconomic Consequences of a Demographic Transition," Asian Economic Papers, MIT Press, vol. 5(1), pages 92-134, Winter.
    • Handle: RePEc:tpr:asiaec:v:5:y:2006:i:1:p:92-134
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    Cited by:

    1. Gehlhar, Mark J. & Dohlman, Erik, 2006. "Macroeconomic and Global Growth Influences on the U.S. Agricultural Trade Balance," 2006 Annual meeting, July 23-26, Long Beach, CA 21324, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Robert Holzmann, 2005. "Demographic Alternatives for Aging Industrial Countries : Increased Total Fertility Rate, Labor Force Participation, or Immigration," World Bank Publications - Reports 20385, The World Bank Group.
    3. Ahmed, S. Amer & Vargas Da Cruz,Marcio Jose & Quillin,Bryce Ramsey & Schellekens,Philip, 2016. "Demographic change and development : a global typology," Policy Research Working Paper Series 7893, The World Bank.
    4. David E. Bloom & David Canning & Günther Fink, 2010. "Implications of population ageing for economic growth," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 26(4), pages 583-612, Winter.
    5. Bussolo, Maurizio & De Hoyos, Rafael E. & Medvedev, Denis & van der Mensbrugghe, Dominique, 2007. "Global growth and distribution : are China and India reshaping the world?," Policy Research Working Paper Series 4392, The World Bank.
    6. McKibbin, Warwick J. & Wilcoxen, Peter J., 2013. "A Global Approach to Energy and the Environment," Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 995-1068, Elsevier.
    7. Guonan Ma & Zhou Haiwen, 2009. "China’s evolving external wealth and rising creditor position," BIS Working Papers 286, Bank for International Settlements.
    8. Weifeng Liu & Warwick McKibbin, 2022. "Global macroeconomic impacts of demographic change," The World Economy, Wiley Blackwell, vol. 45(3), pages 914-942, March.

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