Growth, Demographic Structure, and National Saving in Taiwan.

In this paper, we use improved techniques and updated data from Taiwan to see if, after all, it is possible to tell a story in which demographic change has large effects on saving. We do this, not because we have any reason to revise our previous empirical results-indeed they are replicated on the most recent data - but because our previous work paid too little explicit attention to demographic factors, and because our results looked only at demographic structures in equilibrium, rather than at the actual transition.