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The ongoing demographic changes will bring about a substantial shift in the size and the age composition of the population, which will have significant impact on the global economy. Despite potentially grave consequences, demographic changes usually do not take center stage in many macroeconomic...
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Japan has the most rapidly aging population in the world. This affects growth and fiscal sustainability, but the … find substantial deflationary pressures from aging, mainly from declining growth and falling land prices. Dissaving by the … deflationary effects from aging are magnified by the large fiscal consolidation need. Many of these factors will beset other …
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There is a startling gap between, allegedly, globalization-induced changes in international competition for foreign direct investment (FDI) and recent empirical evidence on the relative importance of determinants of FDI in developing countries. We show that surprisingly little has changed since...
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