Auclert, Adrien; Malmberg, Hannes; Martenet, Frederic; … - National Bureau of Economic Research - 2021
We use a sufficient statistic approach to quantify the general equilibrium effects of population aging on wealth … countries, we measure the compositional effect of aging: how a changing age distribution affects wealth-to-GDP, holding the age … compositional effect is positive, large, and heterogeneous across countries, our model predicts that population aging will increase …