IMF Working Papers

Demographic Transition and Pension Reforms: Adding Demographics to GIMF

By Benjamin Carton, Emilio Fernández Corugedo, Benjamin L Hunt, Simon Voigts

August 7, 2020

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Benjamin Carton, Emilio Fernández Corugedo, Benjamin L Hunt, and Simon Voigts. Demographic Transition and Pension Reforms: Adding Demographics to GIMF, (USA: International Monetary Fund, 2020) accessed November 21, 2024

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Summary

The Global Integrated Monetary and Fiscal model (GIMF) is a multi-region, forward-looking, DSGE model developed at the International Monetary Fund for policy analysis and international economic research. This paper documents the incorporation of demographic features into the model. The analysis presented illustrates how these new features enable the model to estimate some of the macroeconomic consequences of changing demographics.

Subject: Aging, Demographic change, Labor, Population and demographics, Population growth

Keywords: Aging, Capital stock, Central bank, Consumption function, Demographic change, Demographics, Dynamic stochastic general equilibrium models, Exchange rate, Fiscal policy question, GIMF model, Global, Labor market, Lending rate, Macroeconomic interdependence, Market rate of interest, Net impact, Nominal interest rate, OLG household, Population growth, Rate of return, Risk premium, Spillover effect, Substitution effect, Trade balance, Wealth effect, World real interest rate, WP

Publication Details

  • Pages:

    22

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2020/153

  • Stock No:

    WPIEA2020153

  • ISBN:

    9781513551975

  • ISSN:

    1018-5941