The Impact of Aging on Financial Markets and the Economy: A Survey
Brookings Institution - Economic Studies Program
Brookings Institution; Boston College - Retirement Research Center
July 1, 2004
All major industrial countries will experience significant population aging over the next several decades. In both academic circles and the business press it is widely believed that population aging will have important effects on financial markets because of its expected impact on saving rates and the demand for investment funds. This paper reviews the literature on the macroeconomic and asset market effects of population aging, focusing on four related issues: (a) The impact of population age structure on aggregate household saving; (b) The effect of population aging on investment demand; (c) Evidence on the influence of population age structure on financial market asset prices and returns; and (d) Effects of globalization on our interpretation of the impact of demographic change.
Number of Pages in PDF File: 62working papers series
Date posted: June 18, 2008
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