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The Impact of Population Ageing on the Labour Market: Evidence from Overlapping Generations Computable General Equilibrium (OLG-CGE) Model of Scotland (*)

  • Katerina Lisenkova

    (National Institute of Economic and Social Research)

  • Marcel Merette

    (University of Ottawa)

  • Robert Wright


    (Department of Economics, University of Strathclyde)

This paper presents a dynamic Overlapping Generations Computable General Equilibrium (OLG-CGE) model of Scotland. The model is used to examine the impact of population ageing on the labour market. More specifically, it is used to evaluate the effects of labour force decline and labour force ageing on key macro-economic variables. The second effect is assumed to operate through age-specific productivity and labour force participation. In the analysis, particular attention is paid to how population ageing impinges on the government expenditure constraint. The basic structure of the model follows in the Auerbach and Kotlikoff tradition. However, the model takes into consideration directly age-specific mortality. This is analogous to “building in†a cohort-component population projection structure to the model, which allows more complex and more realistic demographic scenarios to be considered.

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Paper provided by University of Strathclyde Business School, Department of Economics in its series Working Papers with number 1213.

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Length: 23 pages
Date of creation: Sep 2012
Date of revision:
Publication status: Published
Handle: RePEc:str:wpaper:1213
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