Chisik, RichardOnder, HarunQirjo, Dhimitri2016-07-112016-07-112016-06https://hdl.handle.net/10986/24657This study considers the role of demand-driven changes arising from population aging and how they affect the pattern of international trade as well as trade and immigration policy. An aging society can see a welfare-reducing reduction in its share of manufacturing output and this reduction is magnified by a decrease in trade costs (an increase in globalization). Immigration can ameliorate this outcome if it is directed toward younger immigrants. A unilateral tariff increase can also reduce firm delocation from an aging country, however, a reciprocated tariff increase will unambiguously harm the country with the older average population.en-USCC BY 3.0 IGOGROWTH RATESTOTAL REVENUEIMMIGRANTSUBSTITUTIONECONOMIC GROWTHDEMAND FUNCTIONSINCOMEEXCHANGELABOR FORCEDOMESTIC MARKETELASTICITYHEALTH CAREIMMIGRANTSPOLITICAL ECONOMYPRICE INDICESMARKET SIZEWELFAREMARKET SHARESPOLICY DISCUSSIONSPRICINGCHILD REARINGHOME MARKETMARGINAL PRODUCTIVITYPRICEPRODUCT QUALITYSAVINGPOPULATION SIZEINTERNATIONAL BANKBUDGETADVERTISINGDEMAND ANALYSISFOREIGN TRADESAVINGSCOSTSPER CAPITA INCOMEFOREIGN MARKETPOPULATION GROWTHPRODUCTSEXTERNALITIESGLOBALIZATIONFERTILITY RATEMIGRATIONMARKETSECONOMICS LITERATURETRADE POLICYPRODUCTELASTICITY OF SUBSTITUTIONINFORMATION PROCESSINGUTILITYFINANCEELDERLYRESPECTPROGRESSEXPENDITUREUNEMPLOYMENTDEMOGRAPHIC TRANSITIONCONSUMPTIONMIGRANTVALUE ADDEDOLDER PEOPLESUBSTITUTEWAGESPOLICIESINTERNATIONAL TRADEHOME COUNTRYIMMIGRATION POLICYFAIRSPOLICY RESEARCH WORKING PAPERVALUEPOPULATION GROWTH RATESCHANGES IN POPULATION SIZEMACROECONOMICSWORLD ECONOMYDEMOGRAPHIC CHANGEDEMANDUTILITY FUNCTIONAGGREGATE DEMANDCHANGES IN FERTILITYEXPENDITURESCONSUMERSEQUATIONSEDUCATIONAL SERVICESPOPULATION RESEARCHSHARESMARKETECONOMIC MODELSPOLICYSOCIAL WELFARECITIZENSOUTPUTINSURANCETRADEAGING COUNTRYGOODSTHEORYCITIZENSHIPMARKET SHAREECONOMIES OF SCALEGROWTH RATEPOPULATION AGEINGWARSBILATERAL TRADEWARNATURAL RESOURCEWORLD POPULATIONSHARECOMPARATIVE ADVANTAGETARIFFIMMIGRATIONSUPPLYMARKET DEMANDPOLICY IMPLICATIONSYOUNG PEOPLEREVENUEPOPULATIONLABOR SUPPLYEQUILIBRIUM PRICESMONOPOLISTIC COMPETITIONWORLD TRADEPOLICY RESEARCHFERTILITYDEMOGRAPHICPRICE INDEXCONSUMPTION LEVELSOUTCOMESMARGINAL PROPENSITY TO CONSUMEPOPULATION INCREASESDEMAND FOR SERVICESPRICESDEVELOPMENT POLICYPOPULATION DYNAMICSCOMPETITIONWorking PaperWorld Bank10.1596/1813-9450-7740