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Erscheinungsjahr: 
2008
Schriftenreihe/Nr.: 
KOF Working Papers No. 194
Verlag: 
ETH Zurich, KOF Swiss Economic Institute, Zurich
Zusammenfassung: 
This paper examines the impact of demographic factors on saving, investment, and external balances. We derive a number of semi-structural equations from national accounting principle and the principle that external balances for the world as a whole must sum to zero. The resulting equations embody both closed, partially open and completely open economies as special cases, and are arguably more properly specified than those previously used in the literature. We apply these semi-structural equations to a large panel data set. While our findings by and large are in agreement with most previous studies, our semi-structural equations give much more plausible estimation results for saving and investment than conventional specification.
Schlagwörter: 
Demography
openness
saving
investment
current account
panel data
JEL: 
E21
F32
J10
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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