  The paper aims to explore the impacts of bi-demographic structure on the
current account and growth. Using a SVAR modeling, we track the dynamic impacts
between these underlying variables. New insights have been developed about the
dynamic interrelation between population growth, current account and economic
growth. The long-run net impact on economic growth of the domestic working
population growth and demand labor for emigrants is positive, due to the
predominant contribution of skilled emigrant workers. Besides, the positive
long-run contribution of emigrant workers to the current account growth largely
compensates the negative contribution from the native population, because of
the predominance of skilled compared to unskilled workforce. We find that a
positive shock in demand labor for emigrant workers leads to an increasing
effect on native active age ratio. Thus, the emigrants appear to be more
complements than substitutes for native workers.
