The Economic Impact of Demographic Structure in OECD Countries
36 Pages Posted: 17 Oct 2012
Date Written: September 27, 2012
Abstract
We examine the impact of demographic structure, the proportion of the population in each age group, on growth, savings, investment, hours, interest rates and inflation using a panel VAR estimated from data for 20 OECD economies, mainly for the period 1970-2007. This flexible dynamic structure with interactions among the main macroeconomic variables allows us to estimate long-run effects of demographic structure on the individual countries. Our estimates confirm the importance of these effects.
Keywords: demographic changes, macroeconomic variables, business cycle
JEL Classification: E32, J11
Suggested Citation: Suggested Citation
Aksoy, Yunus and Grasl, Tobias and Smith, Ron P., The Economic Impact of Demographic Structure in OECD Countries (September 27, 2012). CESifo Working Paper Series No. 3960, Available at SSRN: https://ssrn.com/abstract=2162858 or http://dx.doi.org/10.2139/ssrn.2162858
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