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The Economic Research Institute, Stockholm School of Economics SSE/EFI Working Paper Series in Economics and Finance

No 539:
Population Aging and International Capital Flows

David Domeij () and Martin Flodén ()

Abstract: We use the neoclassical growth framework to model international capital flows in an economy with exogenous demographic change. We compare model implications and actual current account data and find that the model explains a small but significant fraction of capital flows between OECD countries, in particular after 1985.

Keywords: current account; international capital mobility; demographics; Feldstein-Horioka puzzle; (follow links to similar papers)

JEL-Codes: E22; F21; F41; F47; (follow links to similar papers)

19 pages, October 10, 2003, Revised February 20, 2004

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This paper is published as:
Domeij, David and Martin Flodén, (2006), 'Population Aging and International Capital Flows', International Economic Review, Vol. 47, No. 3, pages 1013-1032



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