The world will experience dramatic demographic change over this century. This paper examines the impacts of this global …-sector general equilibrium model. Using a detailed structural model, we simulate demographic shocks of six regions in the world …, economic structure and trade patterns. The results suggest that demographic change in different regions of the world economy …

trends and from the inclusion of China and eastern Europe into the World Trade Organization. This led to a shift in …. This shock is now reversing. As the world ages, real interest rates will rise, inflation and wage growth will pick up and …