Population Aging and its Macroeconomic Implications: A Framework for Analysis

Hamid Faruqee

No 2002/016, IMF Working Papers from International Monetary Fund

Abstract: This paper develops a model to examine the macroeconomic implications of population aging. Using a general equilibrium framework, the analysis examines the various channels through which changes in demographics affect the economy. Age-earnings profiles are taken to summarize differences in effective labor supply across age groups and to help determine changes in consumption and saving behavior that occur over an agent's lifetime. Aggregating these supply- and demand-side effects, the implications of aging on economic activity and fiscal policy are then examined.

Keywords: WP; birth rate; Population Aging; saving; current account; age-earnings profile; fertility rate; life-cycle earnings path; age-earnings function; C. Age-earnings profile; age-earnings distribution; Aging; Demographic change; Population growth (search for similar items in EconPapers)
Pages: 32
Date: 2002-02-01
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Citations: View citations in EconPapers (22)

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