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Discussion Paper Details

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Title: Population Ageing and International Capital Flows

Author(s): David Domeij and Martin Flodén

Publication Date: September 2004

Keyword(s): current account, demographics, Feldstein-Horioka puzzle and international capital mobility

Programme Area(s): International Macroeconomics

Abstract: We use the neoclassical growth framework to model international capital flows in a world with exogenous demographic change. We compare model implications and actual current account data and find that the model explains a small but significant fraction of capital flows between OECD countries, in particular after 1985.

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Bibliographic Reference

Domeij, D and Flodén, M. 2004. 'Population Ageing and International Capital Flows'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=4644