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Demographic change is a field of research in the competence area that is highly relevant for long-term economic development. This is because the aging of society will have significant effects on the labor market and social security system. However, not all of the relevant macroeconomic impact mechanisms have been empirically researched. There is a need for additional research in this area, which is of great relevance for economic policy. The emerging decline in the potential labor force is already influencing macroeconomic development in the medium term. Demographic change must therefore increasingly be taken into account in forecasts.