Ageing and Global Capital Flows

Volker Clausen

Chapter Chapter 5 in Innovation, Employment and Growth Policy Issues in the EU and the US, 2009, pp 131-136 from Springer

Abstract: The world economy, and in particular the major industrial economies, will experience a considerable ageing of their populations over the next decades. It is generally accepted that this demographic transition will have important effects on macroeconomic developments and capital markets. This panel contribution concentrates on the role of international capital flows in an ageing world economy. It addresses the question to which extent international capital flows may soften the demographic burden on national economies and facilitate the adjustment to the global demographic transition. Particular attention is paid to the case of Germany as a country which ages relative to the world economy.

Keywords: Current Account; Real Effective Exchange Rate; Valuation Effect; Current Account Surplus; International Capital Flow (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-00631-9_5

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DOI: 10.1007/978-3-642-00631-9_5

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