Faruqee, Hamid; Tamirisa, Natalia T. - International Monetary Fund (IMF) - 2006
This paper simulates the macroeconomic effects of population aging in a dynamic overlapping generations model of a … small open economy. The model is calibrated to data for the Czech Republic, where population aging is proceeding at a pace … comparable to that in other advanced countries in Europe. Simulations show that population aging is likely to slow economic …