This paper studies the effect of demographic transitions on the economy of Latin America and the Caribbean (LAC). The paper builds a model of multi-regions of the world and derives the path of macroeconomic variables including aggregate output, capital, labor and the saving rate as economies...

In this chapter we review the recent literature on the effects of changing global demographic trends on consumption, factor prices and social security. We also construct an overlapping generation model with four regions of the world. The model is calibrated so that we match some basic statistics...

Advanced economies are aging earlier and faster than the developing and emerging economies, with Japan leading the way. In a world with integrated capital markets, these differences in demographic trends, with different social security environments and productivity growth rates, will have...