Title: Demography, national savings and international capital flows
First published: 1997
Description: "This paper addresses the relationship between age distributions, national savings and the current account balance.  The results point to substantial demographic effects, with increases in both the youth and old-age dependency ratios associated with lower savings rates.  They also point to differential effects on savings and investment, and thus to a role for demography in determining the current account balance.  The estimated demographic effect on the current account balance exceeds six percent of GDP over the last three decades for a number of countries and, given expected demographic trends, is likely to be substantially larger over the coming decades"--Federal Reserve Bank of New York web site.
Subjects: Age distribution (Demography), Capital movements, Economic aspects, Economic aspects of Age distribution (Demography), Saving and investment
LC classification: HB1