Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/65382
Authors: 
Aksoy, Yunus
Grasl, Tobias
Smith, Ron P.
Year of Publication: 
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

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