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.

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Year of publication:	2003-10-10
Authors:	Domeij, David ; Flodén, Martin
Institutions:	Economics Institute for Research (SIR), Handelshögskolan i Stockholm
Subject:	current account \| international capital mobility \| demographics \| Feldstein-Horioka puzzle

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Extent:	application/pdf
Series:	SSE/EFI Working Paper Series in Economics and Finance.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published in International Economic Review, 2006, pages 1013-1032. The text is part of a series SSE/EFI Working Paper Series in Economics and Finance Number 539 19 pages
Classification:	E22 - Capital; Investment (including Inventories); Capacity ; F21 - International Investment; Long-Term Capital Movements ; F41 - Open Economy Macroeconomics ; F47 - Forecasting and Simulation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005649425