The Resource What will happen to financial markets when the baby boomers retire?, prepared by Robin Brooks

What will happen to financial markets when the baby boomers retire?, prepared by Robin Brooks

Label
What will happen to financial markets when the baby boomers retire?
Title
What will happen to financial markets when the baby boomers retire?
Statement of responsibility
prepared by Robin Brooks
Creator
Contributor
Author
Issuing body
Subject
Language
eng
Summary
This paper explores the effects of changes in the age distribution on returns to financial assets. The aging of the baby boomers and speculation over possible effects on financial markets has raised the profile of this issue, both in the financial press and in academic circles. 2 Broadly speaking, there are two opposing views. The first holds that retiring baby boomers will be selling their assets to a smaller generation of young investors. This will drive asset prices down, leaving baby boomers with a smaller nest-egg than anticipated. The second maintains that forward-looking financial markets are pricing assets to incorporate the aging of the boomer generation. As a result, there will not be a market meltdown when the baby boomers retire. This paper bridges the gap between these opposing arguments by asking the following question: can demographic change, which is slow-moving and predictable, have a significant impact on financial markets that are rational and forward-looking? It presents a model in which rational, forward-looking agents of different ages trade in financial assets, and uses this framework to simulate a baby boom-baby bust of the kind observed in many developed countries over the post-war period. The main finding of the paper is that changes in the age distribution have significant effects on asset returns, even when investors are rational and forward-looking, and that these effects have important implications for the welfare of baby boomers and surrounding cohorts
Member of
Action
digitized
Cataloging source
OCLCE
Government publication
international or intergovernmental publication
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 no.00/18
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
IMF working paper
Series volume
WP/00/18
Label
What will happen to financial markets when the baby boomers retire?, prepared by Robin Brooks
Publication
Copyright
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (pages 35-36)
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
ocn647404479
Dimensions
unknown
Extent
1 online resource (36 pages)
File format
one file format
Form of item
online
Isbn
9781281604460
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations
http://library.link/vocab/recordID
.b37182419
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (OCoLC)647404479
  • imf1281604461
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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