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Population Ageing and the Macroeconomy
| Content Provider | Scilit |
|---|---|
| Author | Lisack, Noemie Sajedi, Rana Thwaites, Gregory |
| Copyright Year | 2019 |
| Description | Journal: SSRN Electronic Journal We quantify the impact of demographic change on real interest rates, house prices and household debt in an overlapping-generations model. Falling birth and death rates across advanced economies can explain much of the observed fall in real interest rates and the rise in house prices and household debt. Since households maintain relatively high wealth levels throughout retirement, these trends will persist as population ageing continues. Countries ageing relatively slowly, like the US, will increasingly accumulate net foreign liabilities. The availability of housing as an alternative store of value attenuates these trends, while raising the retirement age has limited effects. |
| Related Links | https://publications.banque-france.fr/sites/default/files/medias/documents/wp745.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3511386 |
| ISSN | 10914358 |
| e-ISSN | 15565068 |
| DOI | 10.2139/ssrn.3511386 |
| Journal | SSRN Electronic Journal |
| Language | English |
| Publisher | Elsevier BV |
| Publisher Date | 2019-12-01 |
| Access Restriction | Open |
| Subject Keyword | Journal: SSRN Electronic Journal Natural Interest Rates Macroeconomic Trends |
| Content Type | Text |
| Resource Type | Article |
| Subject | Public Health, Environmental and Occupational Health Psychiatry and Mental Health |