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01715cas a2200241 a 4500 |
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|c 5.00 USD
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|z 9781451843637
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Brooks, Robin.
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|a What Will Happen to Financial Markets When the Baby Boomers Retire? /
|c Robin Brooks.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2000.
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|a 1 online resource (36 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper explores whether changes in the age distribution have significant effects on financial markets that are rational and forward-looking. It presents an overlapping generations model in which agents make a portfolio decision over stocks and bonds when saving for retirement- Using the model to simulate a baby boom-baby bust demonstrates that returns to baby boomers will be substantially below returns to earlier generations, even when markets are rational and forward-looking. This result is important because the current debate over how to reform pay-as-you-go pension systems often takes historical returns on financial assets-and on the equity premium-as given.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2000/018
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2000/018/001.2000.issue-018-en.xml
|z IMF e-Library
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