The macroeconomic dynamics of demographic shocks

Macroeconomic Dynamics

Volumn 10, Issue 3, 2006, Pages 349-370

  Heijdra, Ben J ^a   Ligthart, Jenny E ^b  

^a UNIVERSITY OF GRONINGEN   (Netherlands)

^b TILBURG UNIVERSITY   (Netherlands)

Author keywords

Blanchard Model; Demographic Shocks; Fertility Rate; Intertemporal Labor Supply; Overlapping Generations; Transition Effects

Indexed keywords

EID: 33646340468     PISSN: 13651005     EISSN: 14698056     Source Type: Journal    
DOI: 10.1017/s1365100506050188     Document Type: Review

References (25)

1. Auerbach, A.J. and L.J. Kotlikoff (1987) Dynamic Fiscal Policy. Cambridge: Cambridge University Press.
2. Auerbach, A.J., J. Cai, and L.J. Kotlikoff (1991) U.S. demographics and saving: predictions of three savings models. Carnegie-Rochester Conference Series on Public Policy 34, 135-156.
3. Auerbach, A.J., L.J. Kotlikoff, R.P. Hagemann, and G. Nicoletti (1989) The economic dynamics of an aging population: The case of four OECD countries. OECD Economic Studies 12, 97-130.
4. Becker, G.S. and R.J. Barro (1988) A reformulation of the economic theory of fertility. Quarterly Journal of Economics 108, 1-25.
5. Blanchard, O.-J. (1985) Debts, deficits, and finite horizons. Journal of Political Economy 93, 223-247.
6. Bloom, D.E., D. Canning, and B. Graham (2003) Longevity and life cycle savings. Scandinavian Journal of Economics 105, 319-338.
7. Bovenberg, A.L. (1993) Investment promoting policies in open economies: The importance of intergenerational and international distributional effects. Journal of Public Economics 51, 3-54.
8. Bovenberg, A.L. and B.J. Heijdra (1998) Environmental tax policy and intergenerational distribution. Journal of Public Economics 67, 1-24.
9. Brooks, R. (2002) Asset market effects of the baby boom and social security reform. American Economic Review 92, 402-406.
10. Buiter, W.H. (1988) Death, birth, productivity growth and debt neutrality. Economic Journal 98, 279-293.
11. Cutler, D., J. Poterba, L. Sheimer, and L. Summers (1990) An aging society: opportunity or challenge? Brookings Papers on Economic Activity 1, 1-73.
12. Diamond, P.A. (1965) National debt in the neoclassical growth model. American Economic Review 55, 279-293.
13. Elmendorf, D.W. and L.M. Sheiner (2000) Should America save for its old age? Fiscal policy, population aging and national savings. Journal of Economic Perspectives 14, 57-74.
14. Group of Ten (1998) The Macroeconomic and Financial Implications of Aging Populations, Report of a Working Party of the Group of Ten Deputies on the Aging of Populations. http://www.bis.org/publ/gten04.pdf.
15. Heijdra, B.J. and J.E. Ligthart (2000) The dynamic macroeconomic effects of tax policy in an overlapping generations model. Oxford Economic Papers 52, 677-701.
16. Heijdra, B J. and J.E. Ligthart (2002) Tax policy, the macroeconomy, and intergenerational distribution. IMF Staff Papers 49, 106-127.
17. Heijdra, B.J. and J.E. Ligthart (2004) The macroeconomic dynamics of demographic shocks: mathematical appendix. University of Groningen. http://www.heijdra.org/demoapp.pdf.
18. Judd, K.L. (1982) An alternative to steady state comparisons in perfect foresight models. Economics Letters 10, 55-59.
19. McMorrow, K. and W. Röger (2003) Economic and financial market consequences of ageing populations. European Commission Economic Paper No. 182, European Commission, Brussels.
20. Momota, A. and K. Futagami (2000) Demographic transition pattern in a small country. Economics Letters 67, 231-237.
21. Ríos-Rull, J.-V. (2001) Population changes and capital accumulation: the aging of the baby boom. The B.E. Journals in Macroeconomics No. 1, Article 7.
22. Samuelson, P.A. (1958) An exact consumption-loan model of interest with or without the social contrivance of money. Journal of Political Economy 66, 467-482.
23. United Nations (2003) World Population Prospects: The 2002 Revision Population Database. http://www.un.org/esa/population/unpop.htm.
24. Weil, P. (1989) Overlapping families of infinite-lived agents. Journal of Public Economics 38, 183-198.
25. Yaari, M.E. (1965) Uncertain lifetime, life insurance and the theory of the consumer. Review of Economic Studies 32, 137-150.