Was die Alterung für die Arbeits- und Kapitalmärkte bedeutet | Munich Center for the Economics of Aging - MEA
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Was die Alterung für die Arbeits- und Kapitalmärkte bedeutet

Inhalt Throughout the world, population aging is a major challenge that will continue well into the 21 st century. While the patterns of the demographic transition are similar in most countries, timing differs substantially, in particular between industrialized and less developed countries. To the extent that capital is internationally mobile, population aging will therefore induce capital flows between countries. In order to quantify these international capital flows, we employ a multi-country overlapping generations model and combine it with long-term demographic projections for several world regions over a 50 year horizon. Our simulations suggest that capital flows from fast-aging industrial countries (such as Germany and Italy) to the rest of the world will be substantial. Closed-economy models of pension reform are likely to miss quantitatively important effects of international capital mobility.
Publikationsdetails
Boersch-Supan

Axel Börsch-Supan

2002
Deutsches Institut für Altersvorsorge