Demographic Transition and Pension Reforms: Adding Demographics to GIMF

Benjamin Carton, Emilio Fernández Corugedo, Benjamin Hunt and Simon Voigts

No 2020/153, IMF Working Papers from International Monetary Fund

Abstract: The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed at the International Monetary Fund for policy analysis and international economic research. This paper documents the incorporation of demographic features into the model. The analysis presented illustrates how these new features enable the model to estimate some of the macroeconomic consequences of changing demographics.

Keywords: WP; demographics; dynamic stochastic general equilibrium models; macroeconomic interdependence; exchange rate; central bank; risk premium; trade balance; labor market; OLG household; nominal interest rate; market rate of interest; capital stock; GIMF model; rate of return; lending rate; Aging; Population growth; Demographic change; Global; consumption function; spillover effect; world real interest rate; net impact; substitution effect; wealth effect; fiscal policy question (search for similar items in EconPapers)
Pages: 22
Date: 2020-08-07
New Economics Papers: this item is included in nep-age, nep-dge and nep-mac
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