Does demographic change affect the current account? A reconsideration?

Graff, Michael, Tang, Kam Ki and Zhang, Jie (2012) Does demographic change affect the current account? A reconsideration?. Global Economy Journal, 12 4: 4.1-4.26. doi:10.1515/1524-5861.1885

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Author Graff, Michael
Tang, Kam Ki
Zhang, Jie
Title Does demographic change affect the current account? A reconsideration?
Journal name Global Economy Journal   Check publisher's open access policy
ISSN 2194-5659
1553-5304
Publication date 2012-12
Year available 2012
Sub-type Article (original research)
DOI 10.1515/1524-5861.1885
Open Access Status File (Publisher version)
Volume 12
Issue 4
Start page 4.1
End page 4.26
Total pages 26
Place of publication Berlin, Germany
Publisher Walter de Gruyter
Collection year 2013
Language eng
Abstract This paper re-examines the impact of demographic factors on the current account balance. To this end, we develop an analytical framework that is more general than the one commonly used in the literature in three aspects. First, it accounts for the facts that the world current account balance must be equal to zero. Second, a bigger economy will have greater impacts on others, but be influenced less by them. Third, a more open economy will have greater impacts on others and at the same time be more readily influenced by them. We then confront two alternative empirical specifications based on both the new and the conventional framework with a panel of data. In contrast to the findings based on the conventional framework, our results with the new framework indicate that population ageing does not appear to have discernible impacts on the current account balance.
Keyword Demography
Ageing
Openness
Current account
General equilibrium
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ
Additional Notes Article 4 Published online: 17 December 2012.

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2013 Collection
School of Economics Publications
 
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Created: Thu, 07 Feb 2013, 12:07:36 EST by Alys Hohnen on behalf of School of Economics