fertility, and (iv) there is a need for more public spending on childcare for age 6-11 in Japan and Korea to help women continue …

converge towards lower equilibrium real interest rates if domestic savings increase to the level of other emerging market … countries. The effect is particularly pronounced if the increase in domestic savings is achieved through higher levels of public … savings. Still, econometric results suggest that, controlling for everything else in the model, real interest rates in Brazil …

reassess national savings behavior, with greater prominence and more careful consideration given to the role played by changing … literature. Going further, we simulate global savings behavior based on our framework and find that China's demographics should … decades, individual countries' convergence toward the simulated savings pattern will be influenced by their past divergences …