分享论文: Demographics and the evolution of global imbalances (Journal of Monetary Economics, Michael Sposi. 2022)
分享人:张甜甜（金融学院，2022级博士生）
时间：2024年09月28日（周六），下午15:00-17：00
地点：学术会堂712
主持人：王忏（金融学院），赵军柱（创新发展学院中国经济与管理研究院）
论文摘要：
The age distribution influences capital flows through aggregate saving and labor supply. To quantify this, I build a dynamic model featuring overlapping generations and international trade among 28 countries since 1970. The equilibrium is replicated by a model with a representative household in each country that experiences an endogenous discount factor, which summarizes the co-evolution of demographics and relevant prices, affording computation of the exact transition. On average, a one-year increase a countrys mean age boosts its current account by 0.4 percent of GDP. Bilateral trade frictions dictate the cross-country response of capital flows to changes in a countrys demographics.
活动对象：创新发展学院、金融学院学生
人数规模：30人
主办单位：创新发展学院中国经济与管理研究院、金融学院联合主办
