growth rate declines from 0.7% to 0.3%), our model forecasts that the aggregate production will decrease by 15% and the …

population growth (i.e., the population aging), decrease real interest rates. Then we calibrate a life-cycle model to capture the … features of the old-age-dependency ratio and population growth in Korea, and show that population aging accounts for about one … third of the fall in real interest rates between 1995 and 2018. Furthermore, according to simulation results, increased life …

, current account and public finance, as well as economic growth. However, more specifically, how and to what extent population … population aging on economic growth based on a simple growth accounting model, reflecting the demographic projection released by … the National Statistics Office. The result shows that the economic growth rate of Korea is estimated to gradually decline …

English Abstract: Most of previous studies exploring the effect of demographic change on economic growth are based upon …. Against this background, this paper conducts empirical analyses on the effect of demographic change on economic growth with … growth in a closed economy could be somewhat exaggerated if the necessary investment resources can inflow in an open economy …

English Abstract: This research aims to analyze the effects of financial and real assets on household consumption … which has decreased consumption consequently leading to the failure of the wealth effect mechanism. In addition, because …