@article{Honkatukia:331829,
      recid = {331829},
      author = {Honkatukia, Juha and Kinnunen, Jouko and Marttila, Kimmo},
      title = {Anticipating the Regional Effects of an Ageing Population:  A Dynamic CGE Analysis for Finland},
      address = {2009},
      pages = {31},
      year = {2009},
      note = {Presented at the 12th Annual Conference on Global Economic  Analysis, Santiago, Chile},
      abstract = {Coping with the effects of an ageing population is among  the foremost fiscal challenges in most industrialised  countries. Among the European economies, Finland provides  an interesting case, as the large post-war baby-boomer  generations are some years older than in other European  counties, and the country is thus already coping with the  effects of ageing. We evaluate the regional effects of  ageing using the VERM model, a dynamic, regional CGE model  for Finnish Economy. The model bases on the well-known TERM  model, but has been extended in several aspects. Our  dynamic extension uses MONASH-type dynamics. To study the  effects of ageing, we introduce an econometric approach  whereby we use econometric results for the parameter values  determining the population-driven demand for public  services, taking into account changes in the number and in  the structure of population. Secondly, we combine CGE  analysis to study fiscal pressure on public sector  finances. The public sector is divided in tree sub-sectors,  namely, the central government, municipalities and social  security funds. The study is related to an on-going  evaluation of the financial relations especially between  the central government and local authorities.},
      url = {http://ageconsearch.umn.edu/record/331829},
}