The Mannheim Research Institute for the Economics of Aging – short: mea – is organizing a

Workshop on „Population Aging and International Capital Markets“.

The workshop will take place at the University of Mannheim on December 6 and 7, 2002.

The workshop is part of a research project at MEA that analyzes the linkage between demographic change and international capital flows, taking account of capital market imperfections and the design and reform of social security systems. This project is now in its third year.

If you need further information or if you have any questions please contact:

Melanie Lührmann
MEA, Universität Mannheim
building L 13, 17
phone +49 621 181-1864
fax +49 621 181-1863
luehrmann@mea.uni-mannheim.de Programm Workshop on Population Aging and International Capital Markets
Friday, December 6, 2002

9.00 - 9.10	Welcome address by Axel Börsch-Supan
9.10 - 10.00	A Demographic Contribution To The Feldstein-Horioka Theorem Michael Moore, Queen’s University Belfast Discussant: Melanie Lührmann, MEA, University of Mannheim
10.00 - 10.50	Saving, Investment and the Net Foreign Asset Position Mathias Hoffmann, University of Cologne Discussant: Michel Juillard, CEPREMAP, Paris
10.50 - 11.20	Coffee break
11.20 - 12.10	The Impact of Bequest Motives on the Saving Behavior of the Aged in Japan Charles Horioka, Osaka University Discussant: Axel Börsch-Supan, MEA, University of Mannheim
12.10 - 13.30	Lunch break
13.30 - 14.20	Optimal Long-Run Fiscal Policy: Constraints, Preferences and the Resolution of Uncertainty Alan Auerbach, UC Berkeley Discussant: Joachim Winter, MEA, University of Mannheim
14.20 - 15.10	Aging, Immigration and International Capital Flows: Projections for Japan Robert Dekle, University of Southern California Discussant: Landis McKellar, IIASA, Laxenburg
15.10 - 15.40	Coffee break
15.40 - 16.30	The Equity Premium and the Baby Boom Robin Brooks, IMF Discussant: Thijs Knaap, OCFEB
16.30 - 17.20	Ageing, Interest Scenarios and the Current Account: Simulations for the Netherlands Leon Bettendorf, OCFEB Discussant: Alexander Ludwig, MEA, University of Mannheim
17.20 - 18.10	Macroeconomic Consequences of Pension Reforms in Europe: An Investigation with the INGENUE World Model Michel Juillard, CEPREMAP, Paris Discussant: Hans Fehr, University of Würzburg
19.30	Departure from the hotel to the conference dinner at the restaurant "Goldener Ochse", Mannheim

Saturday, December 7, 2002

9.30 - 10.20	The Implications of Aging on the Balance of Payments between North and South Barry Eichengreen, UC Berkeley Discussant: Michael Moore, Queen’s University Belfast
10.20 - 10.40	Coffee break
10.40 - 11.30	Home Bias and the Structure of International and Regional Business Cycles Mathias Hoffmann, University of Dortmund Discussant: Peter Broer, CPB Netherlands
11.30 - 11.45	Coffee break
11.45 - 12.35	The Role of Demographic Change in Explaining International Capital Flows Melanie Lührmann, MEA, University of Mannheim Discussant: Robin Brooks, IMF
12.35 - 13.25	Capital Flows Ayse Imrohoroglu, University of Southern California Discussant: Barbara Berkel, MEA, University of Mannheim
13.30	Lunch break
15.00	Departure from the hotel for trip to Heidelberg

The workshop will take place in the department of economics in Building L 7, 3-5.
The meeting room will be on the 4th floor in rooms 457/458.