Population Aging and International Capital Flows
We use the neoclassical growth framework to model international capital flows in an economy with exogenous demographic change. We compare model implications and actual current account data and find that the model explains a small but significant fraction of capital flows between OECD countries, in particular after 1985.
|Date of creation:||10 Oct 2003|
|Date of revision:||21 Oct 2003|
|Publication status:||Published in International Economic Review, 2006, pages 1013-1032.|
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