search query: @indexterm CAPITAL FLOWS / total: 23
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| Author: | Börsch-Supan, A. Ludwig, A. Winters, J. |
| Title: | Ageing, pension reform and capital flows: a multi-country simulation model |
| Journal: | Economica
2006 : NOV, VOL. 73:292, p. 625-658 |
| Index terms: | ageing capital flows capital markets pensions |
| Language: | eng |
| Abstract: | Pension reform and population ageing will have profound effects on international capital markets. This paper develops a computational general equilibrium model to quantify these effects. The simulation of seven world regions indicate that capital flows from rapidly ageing regions to the rest of the world will initially be substantial, but that trends are reversed when households decumulate savings. The paper concludes that closed-economy models of pension reform miss quantitatively important effects if international capital mobility. |
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