Description |
1 online resource (34 pages) : illustrations |
Series |
IMF working paper ; WP/06/9 |
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IMF working paper ; WP/06/9.
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Contents |
Contents -- I. INTRODUCTION -- II. SOME BACKGROUND ON GLOBAL DEMOGRAPHIC CHANGE -- III. MODELING THE ECONOMIC IMPACT OF DEMOGRAPHIC CHANGE -- IV. HOW WILL DEMOGRAPHIC CHANGE AFFECT THE GLOBAL ECONOMY? -- V. SENSITIVITY ANALYSIS -- VI. CONCLUSIONS AND POLICY IMPLICATIONS -- Appendix: The Analytical Approach -- References |
Summary |
The world is in the midst of a major demographic transition. This paper examines the implications of such transition over the next 80 years for Japan, the United States, other industrial countries, and the developing regions of the world using a dynamic intertemporal general equilibrium four-country model containing demographics calibrated to the "medium variant" of the United Nations population projections. We find that population aging in industrial countries will reduce aggregate growth in these regions over time, but should boost growth in developing countries over the next 20-30 years, as the relative size of their workingage populations increases. Demographic change will also affect saving, investment, and capital flows, implying changes in global trade balances and asset prices. We also explore the sensitivity of the results to assumptions about future productivity growth and country external risk for the developing country region |
Bibliography |
Includes bibliographical references (pages 31-34) |
Notes |
Print version record |
Subject |
Demography -- Econometric models
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Population -- Economic aspects -- Econometric models
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Aging -- Economic aspects -- Econometric models
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Saving and investment -- Econometric models
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Capital movements -- Econometric models
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Capital movements -- Econometric models
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Demography -- Econometric models
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Population -- Economic aspects -- Econometric models
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Saving and investment -- Econometric models
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Form |
Electronic book
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Author |
McKibbin, Warwick J., 1957- author.
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Callen, Tim, author.
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ISBN |
1283518198 |
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9781283518192 |
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9781451908053 |
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1451908059 |
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