This paper investigates the implications of the addition of differential population dynamics to a simple 2x2x2 model of international trade within an overlapping-generations (OLG) framework, by assuming that one of the trading partners has the power to set the terms of trade (i.e., is large) at...

This paper considers a two-country world where the population in one country grows faster than the other, and investigates the effects of resulting age composition differences across countries on international trade flows under alternative simulation scenarios, using an overlapping-generations...

Publicly managed social security agencies providing old-age insurance through intergenerational transfers face ever growing losses in many countries as the natural aging of population over time increases old-age dependency ratios. In addition to raises in old-age insurance premiums and/or...

This paper comparatively evaluates performances of widely-used filters employed to separate the trend of a given non-stationary time series from its cyclical components, against a Chebyshev polynomial-based filter designed for this purpose. The performances of detrending techniques under...

We study the time paths of different variables on the way to the analytically obtained long-run autarky equilibrium for a 2-sector, 2-factor overlapping generations economy under different initial conditions and parameter confıgurations, and investigate implications of the initial conditions...

As population aging sets in, publicly managed pension systems operating on the basis of pay-as-you-go (PAYG) schemes face difficulties in maintaining contribution/replacement rate-retirement age configurations. The changing age composition of societies during demographic transition gradually...