The costs of population ageing are primarily reflected in larger expenditures on pensions and health care. This paper explores the consequences of ageing for the Netherlands in a baseline scenario simulated with a dynamic general equilibrium model. We discuss the sensitivity of the results under...

Using quarterly data on four commodity exporting countries, we study the explanatory power of real commodity prices for predicting real effective exchange rates, with special attention to the separate roles of different sectoral commodity prices during alternative time periods. We find that the...