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Federal Reserve Bank of St. Louis
Working Papers
The baby boom and international capital flows
Peter S. Yoo
Abstract

This paper presents a model of economic growth based on the life-cycle hypothesis to determine the path of international capital flows as the baby boom passes through the U.S. economy. The model predicts that a baby boom causes a temporary increase in capital flow into the U.S. but the increase in capital is not sufficient to maintain the capital-labor ratio in the U.S. The baby boom increases saving in the U.S. but decreases the saving abroad due to the higher world interest rates.


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Peter S. Yoo, The baby boom and international capital flows, Federal Reserve Bank of St. Louis, Working Papers 1994-031, 1994.
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Keywords: Economic conditions - United States ; International finance
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