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Demographics, pension systems and the saving-investment balance
Chai, Hua; Kim, Jun-il - 2018
This paper studies the effect of demographic change on national saving, global interest rates, and international capital flows, focusing on the role of the public pension system. We develop a small open economy overlapping generations model to illustrate the channels through which demographic...
Persistent link: https://www.econbiz.de/10011978553
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More gray, more volatile? : aging and (optimal) monetary policy
Baksa, Daniel; Munkacsi, Zsuzsa - 2019
The evidence on the inflation impact of aging is mixed, and there is no evidence regarding the volatility of inflation …. Based on advanced economies' data and a DSGE-OLG model, we find that aging leads to downward pressure on inflation and … higher inflation volatility. Our paper is also the first, using this framework, to discuss how aging affects the transmission …
Persistent link: https://www.econbiz.de/10012103744
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On financing retirement, health, and long-term care in Japan
McGrattan, Ellen R.; Miyachi, Kazuaki; Peralta-Alva, Adrian - 2018
of Japan. We find that financing the costs of aging through gradual increases in the consumption tax rate delivers a …
Persistent link: https://www.econbiz.de/10011978385
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The demographic dividend : evidence from the Indian states
Aiyar, Shekhar; Mody, Ashoka - 2011
Persistent link: https://www.econbiz.de/10009487111
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China’s demography and its implications
Lee, Il Houng; Qingjun, Xu; Syed, Murtaza - 2013
Persistent link: https://www.econbiz.de/10009726452
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Impact of demographic changes on inflation and the macroeconomy
Yoon, Jong-won; Kim, Jinill; Lee, Jungjin - 2014
Persistent link: https://www.econbiz.de/10010479415
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Secular drivers of the natural rate of interest in the United States : a quantitative evaluation
Platzer, Josef; Peruffo, Marcel - 2022
We develop a heterogeneous agent, overlapping generations model with nonhomothetic preferences that nests several explanations for the decline in the natural rate of interest (r*) suggested in the literature: demographic change, a slowdown in productivity growth, a rise in income inequality, and...
Persistent link: https://www.econbiz.de/10013170272
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Okun's Law, development, and demographics : differences in the cyclical sensitivities of unemployment across economy and worker groups
An, Zidong; Bluedorn, John Christopher; Ciminelli, Gabriele - 2021
The negative and stable relationship between an economy's aggregate demand conditions and overall unemployment is well-documented. We show that there is a large degree of heterogeneity in the cyclical sensitivities of unemployment across worker and economy groups. First, unemployment is more...
Persistent link: https://www.econbiz.de/10012796190
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Korea's growth prospects : overcoming demographics and COVID-19
Swiston, Andrew - 2021
, population aging and shifts in global demand provide headwinds for future growth and Korea now faces the effects of COVID-19 on …
Persistent link: https://www.econbiz.de/10012604751
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What's in the (r)-stars for Korea?
Rafiq, Sohrab - 2021
Korea's stars tell of an economy saddled with a real neutral rate (r-star) that has declined significantly in recent decades and is currently below zero. This reflects a significant decline in trend growth, and two large financial crises that triggered significant shifts in the saving-investment...
Persistent link: https://www.econbiz.de/10012604759