Many countries are experiencing rapid changes in demographic structures, with increasing retirees and declining working-age population. This ageing pattern presents challenges for maintaining long-term economic growth and has significant impacts on production, fiscal sustainability, and monetary policy conduct.

In this seminar, Phitawat will present an overview of his PhD dissertation proposal which contains four papers exploring different aspects of demographic changes and macroeconomic implications. The first paper explores age-dependent risk-free and risky asset allocations in a real production economy. The second paper includes the monetary authority and nominal rigidities to investigate monetary policy transmission with an embedded asset channel. The third paper explores how unsynchronized demographic changes between two open economies affect their real interest rates. And the fourth paper studies the welfare impact under different fiscal policy reforms in a stochastic OLG model.

Phitawat Poonpolkul is a PhD candidate in economics at CAMA in Crawford School of Public Policy. He is also an ARC Centre of Excellence in Population Ageing Research (CEPAR) affiliated research student. His primary research interests are on macroeconomics and demographic changes. In particular, he researches on overlapping generation models to explain the implications of demographic changes on asset allocation, monetary policy, and fiscal sustainability.

The CAMA Macroeconomics Brown Bag Seminars offer CAMA speakers, in particular PhD students, an opportunity to present their work in progress in front of their peers, and reputable visitors to showcase their work.