Article ID Journal Published Year Pages File Type
10478014 Journal of the Japanese and International Economies 2005 28 Pages PDF
Abstract
This paper examines how demographic structure affects international lending and borrowing in a two-country model of overlapping generations à la Blanchard and Weil and endogenous growth. It is shown that although growth rates are equalized between countries, international asset positions in the long run are not. They are determined by the countries' demographic structures. A country with high (low) birth and death rates becomes a debtor (creditor) country. We also examine the effect of a change in demographic structure on the growth rate. J. Japanese Int. Economies19 (1) (2005) 135-162.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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