This paper creates the first dataset of bilateral remittance flows for a limited set of developing countries and estimates a gravity model for workers'' remittances. We find that most of the variation in bilateral remittance flows can be explained by a few gravity variables. The evidence on the...

With pay-as-you-go schemes in place, population aging will impose a heavy fiscal burden on young and future cohorts. However, these cohorts may also profit from larger inheritances as the number of heirs declines. The aim of this paper is to explore the compensating potential of private...

This paper calibrates the production functions of 176 countries to fit 2003 data and examines the capital flows that emerge, when labor forces change according to the 2007 UN population projections. It finds that demographic factors are no help in correcting today''s global imbalances; that...