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Title:The economic impact of demographic structure in OECD countries PDF Logo
Authors:Aksoy, Yunus
Grasl, Tobias
Smith, Ron P.
Issue Date:2012
Series/Report no.:CESifo Working Paper: Fiscal Policy, Macroeconomics and Growth 3960
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.
Subjects:demographic changes
macroeconomic variables
business cycle
JEL:E32
J11
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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