Abstract
This paper presents the mathematical structure, computational aspects and calibration process of the general equilibrium, multi-regional, over-lapping-generations model INGENUE. The purpose of this research is to study the international capital flows induced by differential demographic dynamics in various regions of the world in a context of global finance. The most recent UN demographic projections until the year 2050 are used to divide the world into six demographic areas displaying similar characteristics in terms of their relative position in the demographic transition process: three developed areas with rapidly ageing populations — the European zone, the American zone and Japan — and three emerging areas with slower ageing processes. Dynamic simulations of the world interest rate, current accounts and property rates of the regional capital are presented for the next decades.
The INGENUE team is composed of Michel Aglietta (CEPII, MINI-FORUM, France), Rabah Arezki (TEAM, France), Regis Breton (MINI-FORUM), Jean Chateau (CEPII, France), Jacky Fayolle (OFCE, France), Michel Juillard (CEPREMAP, France), Cyrille Lacu (MINI-FORUM), Jacques Le Cacheux (OFCE), Bronka Rzepkowski (CEPII) and Vincent Touzé (OFCE).
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INGENUE Team. (2002). A Long—Term Model for the World Economy. In: Hairault, JO., Kempf, H. (eds) Market Imperfections and Macroeconomic Dynamics. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-3598-7_3
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DOI: https://doi.org/10.1007/978-1-4757-3598-7_3
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4419-4903-5
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