SSE/EFI Working Paper Series in Economics and Finance
Population Aging and International Capital Flows
() 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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