The Impact of Aging on Financial Markets and the Economy: A Survey

62 Pages Posted: 18 Jun 2008

See all articles by Barry Bosworth

Barry Bosworth

Brookings Institution - Economic Studies Program

Ralph Bryant

Brookings Institution

Gary Burtless

Brookings Institution; Boston College - Retirement Research Center

Date Written: July 1, 2004

Abstract

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.

Suggested Citation

Bosworth, Barry and Bryant, Ralph and Burtless, Gary T, The Impact of Aging on Financial Markets and the Economy: A Survey (July 1, 2004). Available at SSRN: https://ssrn.com/abstract=1147668 or http://dx.doi.org/10.2139/ssrn.1147668

Barry Bosworth (Contact Author)

Brookings Institution - Economic Studies Program ( email )

1775 Massachusetts Avenue, NW
Washington, DC 20036
United States
202-797-6000 (Phone)
202-797-6181 (Fax)

Ralph Bryant

Brookings Institution ( email )

1775 Massachusetts Ave, NW
Washington, DC 20036
United States

Gary T Burtless

Brookings Institution ( email )

1775 Massachusetts Ave. NW
Economic Studies Program
Washington, DC 20036-2188
United States
202-797-6000 (Phone)
202-797-6181 (Fax)

Boston College - Retirement Research Center ( email )

Fulton Hall 550
Chestnut Hill, MA 02467
United States

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