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Global Macroeconomic Impacts of Demographic Change

Liu, Weifeng - 2020

The world has been experiencing dramatic demographic change since the 1950s, with almost all countries facing ageing … ageing economies such as Japan and Europe, population ageing will decrease the real interest rate. However, this impact will … from more ageing to less ageing economies. These capital flows can be substantial and beneficial for all economies …

Persistent link: https://www.econbiz.de/10012838254

Demographic Impacts on Life Cycle Portfolios and Financial Market Structures

Liu, Weifeng - 2020

This paper provides a framework to endogenize rates of return for risk-free bonds and risky capital in an overlapping generation model. The rate of return on capital is endogenized by introducing idiosyncratic production shocks to avoid computation challenges associated with aggregate production...

Persistent link: https://www.econbiz.de/10012839193

Korea's Demographic Transition and Long-Term Growth Projection Based on an Overlapping Generations Model

Kwon, Kyooho - 2017

This paper employs an Overlapping Generations Model to quantify the impacts of Korea's demographic transition toward an older population on the total output growth rate. The model incorporates the projected population through 2060 according by Statistics Korea. The effects of the low fertility...

Persistent link: https://www.econbiz.de/10012953807

Aging and Health Financing in the U.S. - A General Equilibrium Analysis

Jung, Juergen - 2017

We quantify the effects of population aging on the U.S. healthcare system. Our analysis is based on a stochastic general equilibrium overlapping generations model of endogenous health accumulation calibrated to match pre-2010 U.S. data. We find that population aging not only leads to large...

Persistent link: https://www.econbiz.de/10012960303

The Aging-Inflation Puzzle : On the Interplay between Aging, Inflation and Pension Systems

Härtl, Klaus - 2018

Persistent link: https://www.econbiz.de/10012907409

Equity across Generations and Uncertainty within a Generation : A Welfare Analysis of the National Pension System

Kwon, Kyooho - 2019

This paper utilizes a life-cycle overlapping-generations model to quantify the welfare effects of plans to postpone the depletion of the National Pension Fund. In order for the model to incorporate the rapidly changing demographic structure of Korea fully, we build and calibrate a model in...

Persistent link: https://www.econbiz.de/10012866184

Aging, the Great Moderation and Business-Cycle Volatility in a Life-Cycle Model

Heer, Burkhard - 2014

According to empirical studies, the life cycle of labor supply volatility exhibits a U-shaped pattern. This may lead to the conclusion that demographic change induces a drop in output volatility. We present an overlapping generations model that replicates the empirically observed pattern and...

Persistent link: https://www.econbiz.de/10013059476

Endogenous Retirement Behavior of Heterogeneous Households Under Pension Reforms

Börsch-Supan, Axel H. - 2018

Persistent link: https://www.econbiz.de/10012920104

On Welfare Effects of Increasing Retirement Age

Makarski, Krzysztof - 2018

We develop an OLG model with realistic assumptions about longevity to analyze the welfare effects of raising the retirement age. We look at a scenario where an economy has a pay-as-you-go defined benefit scheme and compare it to a scenario with defined contribution schemes (funded or notional)....

Persistent link: https://www.econbiz.de/10012922446

Consumption Structure, Welfare Goods and Retirement Income : Linking the Ageing Puzzles

De Freitas, Najat el Mekkaoui - 2015

ageing-consumption, an ageing-saving and a saving-capitalisation puzzles have been put forward in the literature. This paper …

Persistent link: https://www.econbiz.de/10012707609