Discussion paper

DP4644 Population Ageing and International Capital Flows

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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Citation

Floden, M and D Domeij (2004), ‘DP4644 Population Ageing and International Capital Flows‘, CEPR Discussion Paper No. 4644. CEPR Press, Paris & London. https://cepr.org/publications/dp4644