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| Author: | Brooks, R. |
| Title: | Population aging and global capital flows in a parallel universe |
| Journal: | IMF Staff papers
2003 : VOL. 50:2, p. 200-221 |
| Index terms: | Ageing Capital flows International relations Overlapping-generations models Pension funds |
| Language: | eng |
| Abstract: | A multiregion overlapping generations model is used with perfect capital mobility to simulate the general equilibrium effects of projected population trends on international capital flows. Retirement saving by aging baby boomers is found to raise the supply of capital substantially above investment in both the European Union and North America, causing both regions to export large amounts of capital to Africa, Latin America, and other emerging markets in the years ahead. |
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