Demographic changes, saving, and current account: An analysis based on a panel VAR model

Soyoung Kim () and Jong-Wha Lee ()

Japan and the World Economy, 2008, vol. 20, issue 2, pages 236-256

Abstract: This paper empirically investigates the macroeconomic effects of demographic changes, focusing on saving rates and current account balances. The econometric investigation based on the panel VAR model shows substantial demographic effects on national saving rates and current account balances in the major advanced (G-7) countries. An increase in the dependency rate significantly lowers saving rates, especially public saving rates. Further, a higher dependency rate significantly worsens current account balances.

Date: 2008

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Persistent link: http://EconPapers.repec.org/RePEc:eee:japwor:v:20:y:2008:i:2:p:236-256

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