The fertility declines associated with the final phase of the global demographic transition have led to slower population growth and accelerated ageing in developed countries and in several advanced developing countries. A global demographic and economic model is used to assess the implications...

China’s financial openness, measured by cross border flows and asset ownership, peaked during its growth surge. We analyze its international effects and the roles of capital controls that restricted financial inflows to approved FDI limited private outflows. We use a global macro model with...